Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by Easterly Investment Partners LLC

Easterly Investment Partners LLC increased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 24.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 184,353 shares of the natural resource company’s stock after buying an additional 36,618 shares during the quarter. Easterly Investment Partners LLC’s holdings in Freeport-McMoRan were worth $7,020,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Asset Planning Inc purchased a new position in Freeport-McMoRan in the 4th quarter valued at about $25,000. Vision Financial Markets LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC raised its holdings in shares of Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares during the period. Roxbury Financial LLC acquired a new stake in Freeport-McMoRan during the fourth quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. BMO Capital Markets lowered their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. Finally, StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.04.

Freeport-McMoRan Stock Down 3.6 %

NYSE FCX opened at $41.48 on Thursday. Freeport-McMoRan Inc. has a 1-year low of $33.98 and a 1-year high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $38.18 and its two-hundred day moving average is $41.99. The company has a market capitalization of $59.61 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates 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 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.45%. Freeport-McMoRan’s payout ratio is currently 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.