Freeport-McMoRan Inc. $FCX Shares Bought by Evelyn Partners Investment Management LLP

Evelyn Partners Investment Management LLP grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 349,543 shares of the natural resource company’s stock after purchasing an additional 19,325 shares during the period. Evelyn Partners Investment Management LLP’s holdings in Freeport-McMoRan were worth $17,753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth approximately $38,000. Modus Advisors LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth approximately $40,000. Key Financial Inc increased its position in Freeport-McMoRan by 32.3% during the 4th quarter. Key Financial Inc now owns 828 shares of the natural resource company’s stock worth $42,000 after purchasing an additional 202 shares during the period. JPL Wealth Management LLC acquired a new position in Freeport-McMoRan during the 3rd quarter worth approximately $33,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $68.28 on Friday. The business’s 50 day simple moving average is $64.24 and its 200-day simple moving average is $59.05. The firm has a market capitalization of $98.15 billion, a price-to-earnings ratio of 36.32, a price-to-earnings-growth ratio of 0.82 and a beta of 1.35. 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 Inc. has a 12 month low of $35.15 and a 12 month high of $72.09.

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

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were paid a $0.075 dividend. 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 presently 15.96%.

Analyst Upgrades and Downgrades

FCX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. Weiss Ratings raised Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Wall Street Zen raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Saturday. 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 note on Tuesday, April 28th. Finally, CICC Research decreased their price target on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research note 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 given a Hold rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $66.86.

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.