United Capital Management of KS Inc. Purchases Shares of 12,463 Freeport-McMoRan Inc. $FCX

United Capital Management of KS Inc. purchased a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,463 shares of the natural resource company’s stock, valued at approximately $633,000.

A number of other institutional investors have also made changes to their positions in FCX. Leo Wealth LLC lifted its position in shares of Freeport-McMoRan by 2.5% during the 4th quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock worth $347,000 after buying an additional 170 shares during the last quarter. Physician Wealth Advisors Inc. lifted its position in shares of Freeport-McMoRan by 23.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company’s stock worth $47,000 after buying an additional 176 shares during the last quarter. Castle Rock Wealth Management LLC lifted its position in shares of Freeport-McMoRan by 3.3% during the 4th quarter. Castle Rock Wealth Management LLC now owns 5,687 shares of the natural resource company’s stock worth $289,000 after buying an additional 180 shares during the last quarter. GW&K Investment Management LLC lifted its position in shares of Freeport-McMoRan by 11.1% during the 4th quarter. GW&K Investment Management LLC now owns 1,840 shares of the natural resource company’s stock worth $93,000 after buying an additional 184 shares during the last quarter. Finally, Private Trust Co. NA lifted its position in shares of Freeport-McMoRan by 6.7% during the 4th quarter. Private Trust Co. NA now owns 3,119 shares of the natural resource company’s stock worth $158,000 after buying an additional 195 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. CICC Research reduced their price objective on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a research report on Tuesday, April 28th. Scotiabank reduced their price objective on shares of Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating for the company in a research report on Friday, April 24th. JPMorgan Chase & Co. reduced their price objective on shares of Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Bank of America boosted their price objective on shares of Freeport-McMoRan from $68.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, BNP Paribas Exane reduced their price objective on shares of Freeport-McMoRan from $75.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.86.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $68.28 on Friday. The firm’s fifty day simple moving average is $64.24 and its 200-day simple moving average is $59.05. The stock has a market capitalization of $98.15 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 0.80 and a beta of 1.35. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

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

About Freeport-McMoRan

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.