Freeport-McMoRan Inc. $FCX Stock Holdings Lifted by Systematic Financial Management LP

Systematic Financial Management LP boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 80.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,650 shares of the natural resource company’s stock after purchasing an additional 12,805 shares during the period. Systematic Financial Management LP’s holdings in Freeport-McMoRan were worth $1,455,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in Freeport-McMoRan during the fourth quarter valued at approximately $38,000. JPL Wealth Management LLC purchased a new position in Freeport-McMoRan during the third quarter valued at approximately $33,000. Laurel Wealth Advisors LLC purchased a new position in Freeport-McMoRan during the fourth quarter valued at approximately $43,000. YANKCOM Partnership grew its position in Freeport-McMoRan by 83.3% during the fourth quarter. YANKCOM Partnership now owns 869 shares of the natural resource company’s stock valued at $44,000 after purchasing an additional 395 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new position in Freeport-McMoRan during the fourth quarter valued at approximately $45,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Scotiabank reduced their target price on shares of Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating for the company in a research note on Friday, April 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $66.00 target price (down from $70.00) on shares of Freeport-McMoRan in a research note on Friday, April 24th. JPMorgan Chase & Co. reduced their target price on shares of Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. UBS Group lifted their target price on shares of Freeport-McMoRan from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Bank of America lifted their target price on shares of Freeport-McMoRan from $68.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.72.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $61.92 on Monday. The firm has a fifty day simple moving average of $61.41 and a 200-day simple moving average of $56.46. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $70.96. The stock has a market capitalization of $89.01 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 0.75 and a beta of 1.32.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the previous year, the company earned $0.24 earnings per share. Freeport-McMoRan’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s payout ratio is 15.96%.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.