Fieldview Capital Management LLC Invests $1.53 Million in Freeport-McMoRan Inc. $FCX

Fieldview Capital Management LLC acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, Holdings Channel reports. The firm acquired 30,167 shares of the natural resource company’s stock, valued at approximately $1,532,000.

Other hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in Freeport-McMoRan in the 4th quarter valued at approximately $38,000. Modus Advisors LLC purchased a new position in Freeport-McMoRan in the 4th quarter valued at approximately $40,000. Key Financial Inc increased its stake in Freeport-McMoRan by 32.3% in the 4th quarter. Key Financial Inc now owns 828 shares of the natural resource company’s stock valued at $42,000 after purchasing an additional 202 shares in the last quarter. JPL Wealth Management LLC purchased a new position in Freeport-McMoRan in the 3rd quarter valued at approximately $33,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Freeport-McMoRan in the 4th quarter valued at approximately $43,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FCX shares. CICC Research dropped their price objective on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a research note on Tuesday, April 28th. The Goldman Sachs Group raised their price objective on Freeport-McMoRan from $68.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Scotiabank dropped their price objective on 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 reaffirmed an “equal weight” rating and issued a $66.00 price objective (down from $70.00) on shares of Freeport-McMoRan in a research note on Friday, April 24th. Finally, Sanford C. Bernstein raised their price objective on Freeport-McMoRan from $53.50 to $58.50 and gave the company a “market perform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.86.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $68.28 on Monday. The business’s fifty day moving average price is $64.24 and its two-hundred day moving average price is $59.18. The stock has a market cap of $98.15 billion, a PE ratio of 36.32, a price-to-earnings-growth ratio of 0.82 and a beta of 1.35. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. Freeport-McMoRan Inc. has a one year low of $35.15 and a one year high of $72.09.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.Freeport-McMoRan’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. On average, analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, April 15th. Freeport-McMoRan’s dividend 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.