Walser Wealth Management Company A Ltd Liability Co Makes New $882,000 Investment in Freeport-McMoRan Inc. $FCX

Walser Wealth Management Company A Ltd Liability Co purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,372 shares of the natural resource company’s stock, valued at approximately $882,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FCX. Kemnay Advisory Services Inc. acquired a new position in Freeport-McMoRan during the fourth quarter worth $29,000. JPL Wealth Management LLC acquired a new stake in Freeport-McMoRan in the 3rd quarter valued at $33,000. MV Capital Management Inc. bought a new stake in Freeport-McMoRan during the 4th quarter worth about $34,000. Kohmann Bosshard Financial Services LLC bought a new stake in Freeport-McMoRan during the 4th quarter worth about $38,000. Finally, Modus Advisors LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth about $40,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Down 0.4%

Shares of FCX stock opened at $68.80 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. The firm’s 50-day moving average is $64.91 and its 200-day moving average is $59.95. The stock has a market cap of $98.90 billion, a price-to-earnings ratio of 36.60, a PEG ratio of 0.85 and a beta of 1.35. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $72.28.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period last year, the business posted $0.24 EPS. Freeport-McMoRan’s revenue was up 8.8% on a year-over-year basis. Sell-side analysts predict that Freeport-McMoRan Inc. will post 2.51 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 15.96%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. 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 report on Tuesday, June 2nd. Morgan Stanley restated an “equal weight” rating and issued a $66.00 price target (down from $70.00) on shares of Freeport-McMoRan in a research note on Friday, April 24th. JPMorgan Chase & Co. decreased their price target on Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. BNP Paribas Exane boosted their price target on Freeport-McMoRan from $71.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Raymond James Financial dropped their price objective on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.81.

About Freeport-McMoRan

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.