5,318 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Acquired by PDS Planning Inc

PDS Planning Inc purchased a new stake in Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,318 shares of the natural resource company’s stock, valued at approximately $226,000.

Other large investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new position in Freeport-McMoRan during the 4th quarter worth $27,000. BluePath Capital Management LLC bought a new position in Freeport-McMoRan in the 3rd quarter valued at about $28,000. Webster Bank N. A. raised its position in shares of Freeport-McMoRan by 6,469.2% in the 4th quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock valued at $36,000 after buying an additional 841 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $38,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $40,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 1.9 %

NYSE FCX opened at $48.00 on Wednesday. The business’s fifty day moving average is $44.02 and its 200-day moving average is $40.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.42 and a quick ratio of 1.38. The stock has a market capitalization of $68.85 billion, a price-to-earnings ratio of 37.80, a PEG ratio of 2.25 and a beta of 2.04. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $52.42.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The business had revenue of $6.32 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. Equities research analysts predict that Freeport-McMoRan Inc. will post 1.57 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.62%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price objective on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Tuesday, April 9th. Scotiabank raised their price objective on Freeport-McMoRan from $48.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price objective on shares of Freeport-McMoRan from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Finally, Raymond James raised their target price on Freeport-McMoRan from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.15.

About Freeport-McMoRan

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.