5,603 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Acquired by Stonebrook Private Inc.

Stonebrook Private Inc. bought a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,603 shares of the natural resource company’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CM Management LLC raised its holdings in Freeport-McMoRan by 80.0% in the 3rd 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. Signature Estate & Investment Advisors LLC lifted its holdings in shares of Freeport-McMoRan by 6.4% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock worth $14,726,000 after acquiring an additional 20,894 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 worth $279,977,000 after purchasing an additional 102,466 shares during the period. Cadinha & Co. LLC raised its position in Freeport-McMoRan by 59.0% in the fourth 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. Finally, Alphinity Investment Management Pty Ltd raised its position in Freeport-McMoRan by 57.4% in the third 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. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Scotiabank dropped their price objective on Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating for the company in a research note on Wednesday, April 24th. Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Tuesday, April 9th. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 target price on shares of Freeport-McMoRan in a report on Thursday, January 25th. Finally, Sanford C. Bernstein upgraded shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $41.00 to $48.50 in a research note on Monday, January 8th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.07.

Freeport-McMoRan Trading Up 3.8 %

NYSE FCX opened at $52.41 on Tuesday. The firm’s fifty day moving average price is $44.97 and its 200 day moving average price is $40.51. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $52.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.41. The company has a market capitalization of $75.18 billion, a price-to-earnings ratio of 46.38, a price-to-earnings-growth ratio of 8.18 and a beta of 2.04.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The company had revenue of $6.32 billion for the quarter, compared to analyst estimates of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.67 earnings per share 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. Stockholders of record on Monday, April 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Friday, April 12th. Freeport-McMoRan’s payout ratio is currently 26.55%.

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.