Stamos Capital Partners L.P. Raises Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Stamos Capital Partners L.P. increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 70.0% in the 4th quarter, HoldingsChannel reports. The fund owned 13,020 shares of the natural resource company’s stock after purchasing an additional 5,360 shares during the period. Stamos Capital Partners L.P.’s holdings in Freeport-McMoRan were worth $496,000 as of its most recent filing with the SEC.

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

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $33.36 on Monday. The company has a market capitalization of $47.94 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $55.24. The business has a 50 day moving average of $37.10 and a 200 day moving average of $40.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. On average, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.26%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday. Raymond James increased their price target on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, BMO Capital Markets decreased their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.88.

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.