Cwm LLC Has $1.59 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Cwm LLC increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,394 shares of the natural resource company’s stock after purchasing an additional 2,220 shares during the quarter. Cwm LLC’s holdings in Freeport-McMoRan were worth $1,592,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Fulton Bank N.A. increased its holdings in Freeport-McMoRan by 2.6% in the 4th quarter. Fulton Bank N.A. now owns 10,606 shares of the natural resource company’s stock valued at $451,000 after buying an additional 267 shares during the period. Drive Wealth Management LLC boosted its stake in shares of Freeport-McMoRan by 2.8% in the 4th quarter. Drive Wealth Management LLC now owns 9,840 shares of the natural resource company’s stock valued at $419,000 after purchasing an additional 267 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Freeport-McMoRan by 38.8% in the 4th quarter. Sound Income Strategies LLC now owns 965 shares of the natural resource company’s stock valued at $41,000 after purchasing an additional 270 shares in the last quarter. PFG Investments LLC boosted its stake in shares of Freeport-McMoRan by 1.7% in the 4th quarter. PFG Investments LLC now owns 16,844 shares of the natural resource company’s stock valued at $717,000 after purchasing an additional 285 shares in the last quarter. Finally, Oarsman Capital Inc. boosted its stake in shares of Freeport-McMoRan by 0.7% in the 3rd quarter. Oarsman Capital Inc. now owns 45,869 shares of the natural resource company’s stock valued at $1,710,000 after purchasing an additional 304 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $50.48 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.38 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 1 year low of $32.83 and a 1 year high of $52.42. The company has a market cap of $72.41 billion, a PE ratio of 44.67, a PEG ratio of 2.21 and a beta of 2.04. The company’s 50-day moving average is $44.47 and its two-hundred day moving average is $40.26.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The company had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the company posted $0.52 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. Equities analysts anticipate that Freeport-McMoRan Inc. will post 1.58 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a $0.15 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FCX. Scotiabank reduced their target price on shares of Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating on the stock in a research note on Wednesday. Argus boosted their target price on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, April 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price target on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Finally, Sanford C. Bernstein upgraded shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $41.00 to $48.50 in a research report on Monday, January 8th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.07.

Freeport-McMoRan 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.