12,538 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Bought by Rossby Financial LCC

Rossby Financial LCC bought a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,538 shares of the natural resource company’s stock, valued at approximately $477,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Asset Planning Inc purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at about $25,000. Mizuho Bank Ltd. bought a new position in Freeport-McMoRan during the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC bought a new position in Freeport-McMoRan during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC grew its holdings in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC bought a new stake in Freeport-McMoRan in the 4th quarter worth approximately $28,000. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Up 1.0 %

Shares of FCX opened at $33.69 on Tuesday. The firm has a market capitalization of $48.41 billion, a P/E ratio of 26.12, a P/E/G 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 firm has a fifty day moving average price of $37.04 and a 200-day moving average price of $40.86. 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 issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS 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%. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.26%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FCX shares. BMO Capital Markets lowered their target price 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. JPMorgan Chase & Co. lowered their price objective on shares of Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. StockNews.com downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Finally, Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $48.00 in a research note on Thursday, February 27th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.88.

About Freeport-McMoRan

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.