Citizens Financial Group Inc. RI Has $8.11 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Citizens Financial Group Inc. RI decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,527 shares of the natural resource company’s stock after selling 3,863 shares during the period. Citizens Financial Group Inc. RI’s holdings in Freeport-McMoRan were worth $8,111,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Avior Wealth Management LLC grew its stake in shares of Freeport-McMoRan by 41.2% in the 3rd quarter. Avior Wealth Management LLC now owns 1,680 shares of the natural resource company’s stock valued at $63,000 after buying an additional 490 shares in the last quarter. CX Institutional grew its stake in shares of Freeport-McMoRan by 6.2% in the 3rd quarter. CX Institutional now owns 10,244 shares of the natural resource company’s stock valued at $382,000 after buying an additional 597 shares in the last quarter. Czech National Bank grew its stake in shares of Freeport-McMoRan by 47.7% in the 3rd quarter. Czech National Bank now owns 250,570 shares of the natural resource company’s stock valued at $9,344,000 after buying an additional 80,898 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Freeport-McMoRan by 4.7% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 279,168 shares of the natural resource company’s stock valued at $10,410,000 after buying an additional 12,414 shares in the last quarter. Finally, Simplicity Solutions LLC grew its stake in shares of Freeport-McMoRan by 133.2% in the 3rd quarter. Simplicity Solutions LLC now owns 154,649 shares of the natural resource company’s stock valued at $5,767,000 after buying an additional 88,344 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 2.2 %

Shares of FCX stock opened at $50.50 on Friday. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $52.42. The firm has a market cap of $72.44 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 8.18 and a beta of 2.04. The stock has a 50 day moving average of $44.70 and a 200-day moving average of $40.38. The company has a quick ratio of 1.38, a current ratio of 2.35 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $6.32 billion during the quarter, compared to analyst estimates of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. Freeport-McMoRan’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. On average, equities analysts predict that Freeport-McMoRan Inc. will post 1.67 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. Freeport-McMoRan’s payout ratio is 26.55%.

Analysts Set New Price Targets

Several equities research analysts recently commented on FCX shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 price target on shares of Freeport-McMoRan in a research note on Thursday, January 25th. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, April 9th. JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday. Bernstein Bank upped their target price on Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. Finally, StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average target price of $50.07.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.