Sivia Capital Partners LLC Purchases 15,312 Shares of Freeport-McMoRan Inc. $FCX

Sivia Capital Partners LLC increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 117.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,346 shares of the natural resource company’s stock after purchasing an additional 15,312 shares during the quarter. Sivia Capital Partners LLC’s holdings in Freeport-McMoRan were worth $1,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lido Advisors LLC raised its stake in Freeport-McMoRan by 6.2% during the fourth quarter. Lido Advisors LLC now owns 60,355 shares of the natural resource company’s stock worth $3,065,000 after acquiring an additional 3,513 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Freeport-McMoRan by 67.3% in the 4th quarter. CIBC Asset Management Inc now owns 344,047 shares of the natural resource company’s stock valued at $17,474,000 after purchasing an additional 138,409 shares in the last quarter. Marble Wealth LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter worth about $621,000. Bank of New York Mellon Corp grew its holdings in shares of Freeport-McMoRan by 4.7% in the 4th quarter. Bank of New York Mellon Corp now owns 22,685,423 shares of the natural resource company’s stock worth $1,152,193,000 after purchasing an additional 1,014,200 shares during the last quarter. Finally, Rice Partnership LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth about $1,638,000. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Stock Down 1.4%

Shares of NYSE:FCX opened at $70.69 on Thursday. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.09. The company’s 50-day moving average price is $63.08 and its two-hundred day moving average price is $57.93. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The firm has a market cap of $101.62 billion, a P/E ratio of 37.60, a P/E/G ratio of 0.86 and a beta of 1.35.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The company’s revenue was up 8.8% on a year-over-year basis. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan’s dividend payout ratio is currently 15.96%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FCX shares. CICC Research cut their price target on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a report on Tuesday, April 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $66.00 price objective (down from $70.00) on shares of Freeport-McMoRan in a report on Friday, April 24th. Bank of America lifted their target price on shares of Freeport-McMoRan from $68.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, BNP Paribas Exane decreased their price target on Freeport-McMoRan from $75.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target of $66.04.

Freeport-McMoRan Company Profile

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.