Quantum Private Wealth LLC Has $909,000 Position in Freeport-McMoRan Inc. (NYSE:FCX)

Quantum Private Wealth LLC boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,360 shares of the natural resource company’s stock after buying an additional 1,900 shares during the quarter. Quantum Private Wealth LLC’s holdings in Freeport-McMoRan were worth $909,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FinTrust Capital Advisors LLC increased its holdings in Freeport-McMoRan by 5.1% during the 4th quarter. FinTrust Capital Advisors LLC now owns 5,252 shares of the natural resource company’s stock worth $200,000 after purchasing an additional 253 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of Freeport-McMoRan by 2.6% in the fourth quarter. Fulton Bank N.A. now owns 10,606 shares of the natural resource company’s stock valued at $451,000 after acquiring an additional 267 shares in the last quarter. Drive Wealth Management LLC grew its holdings in shares of Freeport-McMoRan by 2.8% in the fourth quarter. Drive Wealth Management LLC now owns 9,840 shares of the natural resource company’s stock valued at $419,000 after acquiring an additional 267 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Freeport-McMoRan by 38.8% in the fourth quarter. Sound Income Strategies LLC now owns 965 shares of the natural resource company’s stock valued at $41,000 after acquiring an additional 270 shares in the last quarter. Finally, PFG Investments LLC grew its holdings in shares of Freeport-McMoRan by 1.7% in the fourth quarter. PFG Investments LLC now owns 16,844 shares of the natural resource company’s stock valued at $717,000 after acquiring an additional 285 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of FCX stock traded down $0.61 on Wednesday, reaching $49.41. The company’s stock had a trading volume of 20,075,228 shares, compared to its average volume of 15,010,590. The company has a quick ratio of 1.38, a current ratio of 2.42 and a debt-to-equity ratio of 0.32. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month high of $52.42. The company has a market capitalization of $70.87 billion, a P/E ratio of 38.91, a PEG ratio of 2.26 and a beta of 2.04. The stock’s 50 day simple moving average is $42.87 and its 200-day simple moving average is $39.68.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter last year, the business posted $0.52 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Freeport-McMoRan Inc. will post 1.6 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.21%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.62%.

Wall Street Analyst Weigh In

FCX has been the subject of several research reports. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $41.00 to $48.50 in a report on Monday, January 8th. Raymond James increased their price objective on Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Tuesday, April 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price objective on shares of Freeport-McMoRan in a report on Thursday, January 25th. Finally, Scotiabank increased their target price on Freeport-McMoRan from $48.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Freeport-McMoRan has a consensus rating of “Hold” and a consensus price target of $46.71.

About Freeport-McMoRan

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.