Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by CoreCap Advisors LLC

CoreCap Advisors LLC boosted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 19.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,660 shares of the natural resource company’s stock after acquiring an additional 1,075 shares during the period. CoreCap Advisors LLC’s holdings in Freeport-McMoRan were worth $284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Freeport-McMoRan by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 119,369,409 shares of the natural resource company’s stock worth $4,451,285,000 after acquiring an additional 305,912 shares during the period. State Street Corp lifted its stake in shares of Freeport-McMoRan by 1.4% during the 2nd quarter. State Street Corp now owns 63,242,717 shares of the natural resource company’s stock worth $2,529,709,000 after purchasing an additional 887,136 shares during the period. Geode Capital Management LLC lifted its stake in shares of Freeport-McMoRan by 1.9% during the 1st quarter. Geode Capital Management LLC now owns 25,338,465 shares of the natural resource company’s stock worth $1,033,858,000 after purchasing an additional 472,160 shares during the period. Northern Trust Corp raised its position in shares of Freeport-McMoRan by 4.2% in the 3rd quarter. Northern Trust Corp now owns 17,756,034 shares of the natural resource company’s stock worth $662,123,000 after buying an additional 709,114 shares during the period. Finally, Morgan Stanley increased its holdings in Freeport-McMoRan by 4.8% in the 4th quarter. Morgan Stanley now owns 16,533,638 shares of the natural resource company’s stock valued at $628,278,000 after purchasing an additional 753,458 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FCX shares. Sanford C. Bernstein upgraded Freeport-McMoRan from a “market perform” rating to an “outperform” rating and raised their target price for the company from $41.00 to $48.50 in a research note on Monday, January 8th. UBS Group lowered their price objective on shares of Freeport-McMoRan from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price target on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Eight Capital set a $55.00 price target on shares of Freeport-McMoRan and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Finally, Morgan Stanley cut their target price on shares of Freeport-McMoRan from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.95.

Freeport-McMoRan Trading Up 2.6 %

FCX opened at $45.90 on Thursday. The firm’s fifty day simple moving average is $40.08 and its 200 day simple moving average is $38.62. The company has a current ratio of 2.42, a quick ratio of 1.38 and a debt-to-equity ratio of 0.32. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $46.49. The stock has a market capitalization of $65.83 billion, a P/E ratio of 36.14 and a beta of 2.02.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.85 billion. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 EPS. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 1.53 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared 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. This represents a $0.60 dividend on an annualized basis and a yield of 1.31%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.62%.

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.