Freeport-McMoRan Inc. $FCX Shares Acquired by Tamar Securities LLC

Tamar Securities LLC grew its position in Freeport-McMoRan Inc. (NYSE:FCX) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 496,712 shares of the natural resource company’s stock after acquiring an additional 30,684 shares during the quarter. Freeport-McMoRan comprises approximately 2.7% of Tamar Securities LLC’s portfolio, making the stock its 15th biggest position. Tamar Securities LLC’s holdings in Freeport-McMoRan were worth $25,228,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at approximately $38,000. Modus Advisors LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at approximately $40,000. Key Financial Inc boosted its holdings in shares of Freeport-McMoRan by 32.3% in the fourth quarter. Key Financial Inc now owns 828 shares of the natural resource company’s stock valued at $42,000 after acquiring an additional 202 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of Freeport-McMoRan in the third quarter valued at approximately $33,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at approximately $43,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Down 0.2%

Shares of Freeport-McMoRan stock opened at $68.28 on Monday. The company has a market cap of $98.15 billion, a P/E ratio of 36.32, a PEG ratio of 0.82 and a beta of 1.35. 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 one year low of $35.15 and a one year high of $72.09. The firm has a fifty day moving average of $64.24 and a two-hundred day moving average of $59.18.

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

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders 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 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan’s dividend payout ratio (DPR) is 15.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Raymond James Financial decreased their price objective on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Wall Street Zen upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Saturday. Jefferies Financial Group lifted their price objective on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, June 8th. UBS Group boosted their price objective on shares of Freeport-McMoRan from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freeport-McMoRan in a research report on Friday, May 15th. Two 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.86.

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.