Infrastructure Capital Advisors LLC Acquires 24,788 Shares of Freeport-McMoRan Inc. $FCX

Infrastructure Capital Advisors LLC raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 62.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,223 shares of the natural resource company’s stock after buying an additional 24,788 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in Freeport-McMoRan were worth $3,262,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV grew its holdings in shares of Freeport-McMoRan by 49.0% in the 4th quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock worth $11,267,000 after purchasing an additional 73,002 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Freeport-McMoRan in the 4th quarter worth about $8,857,000. Wellington Management Group LLP grew its holdings in shares of Freeport-McMoRan by 190.9% in the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after purchasing an additional 23,950,557 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Freeport-McMoRan by 426.3% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 81,892 shares of the natural resource company’s stock worth $3,212,000 after purchasing an additional 66,331 shares during the last quarter. Finally, Powszechne Towarzystwo Emerytalne Allianz Polska S.A. grew its holdings in shares of Freeport-McMoRan by 175.4% in the 4th quarter. Powszechne Towarzystwo Emerytalne Allianz Polska S.A. now owns 1,379,760 shares of the natural resource company’s stock worth $70,078,000 after purchasing an additional 878,760 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $68.95 on Thursday. 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 Inc. has a 1 year low of $35.15 and a 1 year high of $72.28. The company has a market cap of $99.12 billion, a PE ratio of 36.67, a PEG ratio of 0.86 and a beta of 1.35. The company’s 50-day moving average is $64.74 and its two-hundred day moving average is $59.77.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the prior year, the company posted $0.24 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. Equities analysts anticipate that Freeport-McMoRan Inc. will post 2.51 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were given a dividend of $0.075 per share. The ex-dividend date 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 is presently 15.96%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FCX. Raymond James Financial lowered their target price on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Citigroup lowered their target price on shares of Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, May 1st. CICC Research reduced their price target on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. HSBC upped their price target on shares of Freeport-McMoRan from $72.00 to $75.00 in a research report on Friday, June 12th. Finally, The Goldman Sachs Group upped their price target on shares of Freeport-McMoRan from $68.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average target price of $67.31.

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.