8,272 Shares in Freeport-McMoRan Inc. $FCX Purchased by Severin Investments LLC

Severin Investments LLC bought a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 8,272 shares of the natural resource company’s stock, valued at approximately $486,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steph & Co. raised its position in Freeport-McMoRan by 43.7% during the first quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 150 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Freeport-McMoRan in the 4th quarter valued at $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Freeport-McMoRan in the 4th quarter valued at $29,000. SHP Wealth Management bought a new position in shares of Freeport-McMoRan in the 4th quarter valued at $30,000. Finally, MV Capital Management Inc. bought a new position in shares of Freeport-McMoRan in the 4th quarter valued at $34,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on FCX shares. Citigroup reduced their price objective on Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Wells Fargo & Company decreased their price target on shares of Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Raymond James Financial lowered their price objective on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Finally, BMO Capital Markets increased their price objective on shares of Freeport-McMoRan from $68.00 to $78.00 and gave the company an “outperform” rating in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.36.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $62.92 on Wednesday. The business’s 50-day moving average price is $64.33 and its 200-day moving average price is $61.06. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.28. The firm has a market capitalization of $90.45 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 0.74 and a beta of 1.35. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Equities research analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, July 15th. Freeport-McMoRan’s dividend payout ratio is 15.96%.

About Freeport-McMoRan

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.