Fidelis Capital Partners LLC Purchases 2,447 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Fidelis Capital Partners LLC grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 30.2% in the 4th quarter, Holdings Channel reports. The fund owned 10,538 shares of the natural resource company’s stock after buying an additional 2,447 shares during the period. Fidelis Capital Partners LLC’s holdings in Freeport-McMoRan were worth $449,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. CM Management LLC increased its stake in shares of Freeport-McMoRan by 80.0% in the third quarter. CM Management LLC now owns 36,000 shares of the natural resource company’s stock valued at $1,342,000 after buying an additional 16,000 shares during the period. Charles Schwab Investment Management Inc. increased its position in Freeport-McMoRan by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company’s stock valued at $279,977,000 after purchasing an additional 102,466 shares during the period. Cadinha & Co. LLC increased its position in Freeport-McMoRan by 59.0% during the 4th quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company’s stock valued at $27,572,000 after purchasing an additional 240,340 shares during the period. Alphinity Investment Management Pty Ltd increased its position in Freeport-McMoRan by 57.4% during the 3rd quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock valued at $201,039,000 after purchasing an additional 1,965,987 shares during the period. Finally, Signature Estate & Investment Advisors LLC increased its position in Freeport-McMoRan by 6.4% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock valued at $14,726,000 after purchasing an additional 20,894 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Ratings Changes

FCX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Freeport-McMoRan from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday. Scotiabank increased their target price on shares of Freeport-McMoRan from $48.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Tuesday, April 9th. Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, April 9th. Sanford C. Bernstein upgraded Freeport-McMoRan from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $41.00 to $48.50 in a report on Monday, January 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price target on shares of Freeport-McMoRan in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $47.54.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $49.62 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.38 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $43.57 and its two-hundred day simple moving average is $39.91. Freeport-McMoRan Inc. has a 1-year low of $32.83 and a 1-year high of $52.42. The stock has a market cap of $71.18 billion, a PE ratio of 39.07, a price-to-earnings-growth ratio of 2.30 and a beta of 2.04.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same period last year, the firm posted $0.52 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts forecast that Freeport-McMoRan Inc. will post 1.57 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

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

Freeport-McMoRan Company 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.