New Age Alpha Advisors LLC Has $3.67 Million Stock Position in Freeport-McMoRan Inc. $FCX

New Age Alpha Advisors LLC lowered its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 24.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,324 shares of the natural resource company’s stock after selling 22,942 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Freeport-McMoRan were worth $3,673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPL Wealth Management LLC acquired a new position in Freeport-McMoRan in the third quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Freeport-McMoRan in the third quarter valued at about $36,000. Kohmann Bosshard Financial Services LLC acquired a new position in Freeport-McMoRan in the fourth quarter valued at about $38,000. Laurel Wealth Advisors LLC acquired a new position in Freeport-McMoRan in the fourth quarter valued at about $43,000. Finally, YANKCOM Partnership raised its stake in Freeport-McMoRan by 83.3% in 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. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of analyst reports. Freedom Capital raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Scotiabank decreased their target price on Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Friday, April 24th. CICC Research decreased their target price on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freeport-McMoRan in a research report on Friday, May 15th. Finally, Sanford C. Bernstein decreased their target price on Freeport-McMoRan from $54.00 to $53.50 and set a “market perform” rating on the stock in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus price target of $65.72.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $61.92 on Tuesday. Freeport-McMoRan Inc. has a 12-month low of $35.15 and a 12-month high of $70.96. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $61.47 and its two-hundred day moving average price is $56.62. The stock has a market cap of $89.01 billion, a PE ratio of 32.94, a P/E/G ratio of 0.75 and a beta of 1.32.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (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%.The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 earnings per share. As a group, analysts expect that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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

Freeport-McMoRan 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.