Orion Portfolio Solutions LLC Grows Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Orion Portfolio Solutions LLC raised its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 13.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,078 shares of the natural resource company’s stock after acquiring an additional 5,674 shares during the period. Orion Portfolio Solutions LLC’s holdings in Freeport-McMoRan were worth $1,793,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Asset Planning Inc purchased a new stake in shares of Freeport-McMoRan during the fourth quarter worth approximately $25,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan in the 4th quarter worth $27,000. Laurel Wealth Advisors LLC boosted its holdings in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Freeport-McMoRan during the fourth quarter worth about $29,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. StockNews.com upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Monday. JPMorgan Chase & Co. raised Freeport-McMoRan from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $48.00 to $52.00 in a report on Thursday, March 20th. BMO Capital Markets reduced their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Scotiabank lowered their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Finally, Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Trading Up 0.1 %

Shares of FCX opened at $38.17 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 1-year low of $33.98 and a 1-year high of $55.24. The stock has a market cap of $54.85 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The firm has a 50 day simple moving average of $38.03 and a 200-day simple moving average of $41.89.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.57%. Freeport-McMoRan’s dividend payout ratio (DPR) is 23.26%.

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.