M&R Capital Management Inc. Purchases 305 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

M&R Capital Management Inc. increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX – Get Rating) by 61.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 805 shares of the natural resource company’s stock after purchasing an additional 305 shares during the quarter. M&R Capital Management Inc.’s holdings in Freeport-McMoRan were worth $31,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in Freeport-McMoRan during the first quarter worth about $26,000. Sound Income Strategies LLC lifted its position in Freeport-McMoRan by 48.8% during the fourth quarter. Sound Income Strategies LLC now owns 872 shares of the natural resource company’s stock worth $33,000 after purchasing an additional 286 shares during the period. Founders Capital Management bought a new stake in Freeport-McMoRan during the third quarter worth about $27,000. Assetmark Inc. lifted its position in Freeport-McMoRan by 54.1% during the third quarter. Assetmark Inc. now owns 1,051 shares of the natural resource company’s stock worth $29,000 after purchasing an additional 369 shares during the period. Finally, Western Pacific Wealth Management LP bought a new position in shares of Freeport-McMoRan in the third quarter worth about $30,000. Institutional investors own 77.12% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup increased their target price on shares of Freeport-McMoRan from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Freeport-McMoRan from $35.00 to $40.00 in a report on Tuesday, January 10th. Raymond James increased their target price on shares of Freeport-McMoRan from $40.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, January 31st. StockNews.com assumed coverage on shares of Freeport-McMoRan in a report on Thursday. They issued a “hold” rating for the company. Finally, TheStreet raised shares of Freeport-McMoRan from a “c” rating to a “b” rating in a report on Wednesday, January 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.21.

Insider Buying and Selling at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 11,678 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $43.17, for a total transaction of $504,139.26. Following the completion of the sale, the chief accounting officer now owns 32,333 shares of the company’s stock, valued at approximately $1,395,815.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $36.23 on Friday. The company has a market capitalization of $51.83 billion, a PE ratio of 15.29 and a beta of 2.02. The company has a 50 day simple moving average of $42.41 and a two-hundred day simple moving average of $36.75. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.46. Freeport-McMoRan Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $51.99.

Freeport-McMoRan (NYSE:FCX – Get Rating) last released its earnings results on Wednesday, January 25th. The natural resource company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.12. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.42 billion. Freeport-McMoRan had a net margin of 15.22% and a return on equity of 14.59%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 EPS. Research analysts anticipate that Freeport-McMoRan Inc. will post 1.98 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 1st. Shareholders of record on Friday, January 13th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Thursday, January 12th. Freeport-McMoRan’s dividend payout ratio is presently 12.66%.

Freeport-McMoRan Profile

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Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines, South America Mining, Indonesia Mining, Molybdenum Mines, Rod and Refining, Atlantic Copper Smelting and Refining, and Corporate and Other. The North America Copper Mines segment operates open-pit copper mines in Morenci, Baghdad, Safford, Sierrita, and Miami in Arizona and Chino and Tyrone in New Mexico.