Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna Purchases 49,497 Shares of Freeport-McMoRan Inc. $FCX

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1,480.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 52,841 shares of the natural resource company’s stock after acquiring an additional 49,497 shares during the quarter. Freeport-McMoRan comprises approximately 1.0% of Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna’s holdings, making the stock its 24th largest holding. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna’s holdings in Freeport-McMoRan were worth $2,684,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FCX. Brighton Jones LLC boosted 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 valued at $564,000 after acquiring an additional 2,882 shares during the last quarter. Bison Wealth LLC boosted 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 valued at $366,000 after acquiring an additional 507 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Freeport-McMoRan in the second quarter worth $560,000. Brown Advisory Inc. lifted its position in Freeport-McMoRan by 27.0% in the second quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after buying an additional 2,648 shares during the last quarter. Finally, Jump Financial LLC lifted its position in Freeport-McMoRan by 42.7% in the second quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock worth $2,172,000 after buying an additional 14,992 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Scotiabank lowered their price target on Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating for the company in a research report on Friday, April 24th. Argus upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Friday, February 13th. Raymond James Financial lowered their price target on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Weiss Ratings upgraded Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Finally, Freedom Capital upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.04.

Freeport-McMoRan Stock Down 9.1%

NYSE:FCX opened at $63.37 on Friday. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $72.09. The company has a market cap of $91.10 billion, a price-to-earnings ratio of 33.71, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35. The stock has a fifty day simple moving average of $63.48 and a 200-day simple moving average of $58.17. 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 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. The business 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 business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. Analysts anticipate that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Dividend Announcement

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