XTX Topco Ltd Makes New $466,000 Investment in Freeport-McMoRan Inc. (NYSE:FCX)

XTX Topco Ltd purchased a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,248 shares of the natural resource company’s stock, valued at approximately $466,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PFG Investments LLC lifted its position in Freeport-McMoRan by 1.3% in the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock valued at $872,000 after acquiring an additional 283 shares in the last quarter. Palogic Value Management L.P. lifted its holdings in shares of Freeport-McMoRan by 1.5% during the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock valued at $772,000 after purchasing an additional 292 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of Freeport-McMoRan by 1.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock valued at $727,000 after purchasing an additional 307 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Freeport-McMoRan by 0.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company’s stock worth $1,451,000 after buying an additional 309 shares in the last quarter. Finally, Inspire Advisors LLC raised its position in Freeport-McMoRan by 2.6% in the 4th quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company’s stock worth $494,000 after buying an additional 325 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

FCX has been the topic of a number of recent analyst reports. Wolfe Research raised shares of Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 price target on the stock in a report on Wednesday, April 16th. Raymond James lifted their target price on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Thursday, March 6th. Scotiabank dropped their price target on Freeport-McMoRan from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Monday, April 7th. Finally, BMO Capital Markets reduced their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average price target of $48.39.

Freeport-McMoRan Trading Down 1.3 %

Shares of NYSE:FCX opened at $32.90 on Monday. The stock has a 50 day moving average of $36.66 and a 200 day moving average of $40.38. The company has a market cap of $47.28 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.82%. Freeport-McMoRan’s payout ratio is presently 23.26%.

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.