Systematic Financial Management LP Buys 12,805 Shares of Freeport-McMoRan Inc. $FCX

Systematic Financial Management LP increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 80.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,650 shares of the natural resource company’s stock after acquiring an additional 12,805 shares during the quarter. Systematic Financial Management LP’s holdings in Freeport-McMoRan were worth $1,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FCX. Leo Wealth LLC increased its holdings in Freeport-McMoRan by 2.5% in the 4th quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock valued at $347,000 after buying an additional 170 shares during the period. Physician Wealth Advisors Inc. increased its holdings in Freeport-McMoRan by 23.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company’s stock valued at $47,000 after buying an additional 176 shares during the period. Castle Rock Wealth Management LLC increased its holdings in Freeport-McMoRan by 3.3% in the 4th quarter. Castle Rock Wealth Management LLC now owns 5,687 shares of the natural resource company’s stock valued at $289,000 after buying an additional 180 shares during the period. Private Trust Co. NA increased its holdings in Freeport-McMoRan by 6.7% in the 4th quarter. Private Trust Co. NA now owns 3,119 shares of the natural resource company’s stock valued at $158,000 after buying an additional 195 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its holdings in Freeport-McMoRan by 0.3% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 64,438 shares of the natural resource company’s stock valued at $3,273,000 after buying an additional 207 shares during the period. Institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

FCX has been the topic of several analyst reports. Argus raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Friday, February 13th. Jefferies Financial Group set a $75.00 price target on shares of Freeport-McMoRan in a report on Thursday, April 23rd. Freedom Capital raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Saturday, February 21st. Sanford C. Bernstein lowered their price target on shares of Freeport-McMoRan from $54.00 to $53.50 and set a “market perform” rating on the stock in a report on Friday, April 24th. Finally, CICC Research lowered their price target on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average target price of $65.72.

Freeport-McMoRan Stock Down 0.1%

FCX opened at $61.92 on Monday. The firm’s 50-day simple moving average is $61.41 and its 200-day simple moving average is $56.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $70.96. The firm has a market cap of $89.01 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 0.75 and a beta of 1.32.

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

Freeport-McMoRan Announces Dividend

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

Freeport-McMoRan Company 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.