18,500 Shares in Freeport-McMoRan Inc. $FCX Purchased by Prudent Man Advisors LLC

Prudent Man Advisors LLC bought a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 18,500 shares of the natural resource company’s stock, valued at approximately $940,000.

A number of other hedge funds have also made changes to their positions in FCX. Brighton Jones LLC increased its position in shares of Freeport-McMoRan by 24.2% during the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after purchasing an additional 2,882 shares in the last quarter. Bison Wealth LLC increased its position in shares of Freeport-McMoRan by 5.6% during the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after purchasing an additional 507 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Freeport-McMoRan during the 2nd quarter worth about $560,000. Brown Advisory Inc. increased its position in shares of Freeport-McMoRan by 27.0% during the 2nd quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after purchasing an additional 2,648 shares in the last quarter. Finally, Jump Financial LLC increased its position in shares of Freeport-McMoRan by 42.7% during the 2nd quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock worth $2,172,000 after purchasing an additional 14,992 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FCX. Bank of America increased their target price 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. Stifel Nicolaus increased their target price on shares of Freeport-McMoRan from $52.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Jefferies Financial Group set a $75.00 price objective on shares of Freeport-McMoRan in a research report on Thursday, April 23rd. HSBC raised their price objective on shares of Freeport-McMoRan from $69.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Finally, Sanford C. Bernstein lowered their price objective on shares of Freeport-McMoRan from $54.00 to $53.50 and set a “market perform” rating for the company in a research report on Friday, April 24th. Two investment 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.04.

Freeport-McMoRan Trading Down 0.0%

FCX opened at $63.37 on Monday. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $91.10 billion, a PE ratio of 33.71, a PEG ratio of 0.76 and a beta of 1.35. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $72.09. The firm has a 50-day moving average price of $63.48 and a two-hundred day moving average price of $58.31.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. The firm had revenue of $6.23 billion during 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 15.96%.

Freeport-McMoRan 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.