Walser Wealth Management Company A Ltd Liability Co Acquires Shares of 17,372 Freeport-McMoRan Inc. $FCX

Walser Wealth Management Company A Ltd Liability Co acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,372 shares of the natural resource company’s stock, valued at approximately $882,000.

A number of other hedge funds also recently modified their holdings of FCX. KBC Group NV boosted its holdings in shares of Freeport-McMoRan by 49.0% during the 4th quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock valued at $11,267,000 after acquiring an additional 73,002 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Freeport-McMoRan during the 4th quarter worth $8,857,000. Wellington Management Group LLP increased its holdings in 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 in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in 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 in the last quarter. Finally, Powszechne Towarzystwo Emerytalne Allianz Polska S.A. raised its position in Freeport-McMoRan by 175.4% in the fourth quarter. Powszechne Towarzystwo Emerytalne Allianz Polska S.A. now owns 1,379,760 shares of the natural resource company’s stock valued at $70,078,000 after purchasing an additional 878,760 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 0.4%

Shares of FCX opened at $68.80 on Friday. The company has a market capitalization of $98.90 billion, a PE ratio of 36.60, a PEG ratio of 0.85 and a beta of 1.35. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.28. The stock’s 50-day moving average price is $64.91 and its two-hundred day moving average price is $59.95. 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 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 firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the previous year, the company posted $0.24 EPS. The business’s revenue was up 8.8% on a year-over-year basis. On average, analysts anticipate that Freeport-McMoRan Inc. will post 2.51 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently declared 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 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 is 15.96%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FCX shares. BNP Paribas Exane lifted their price target on Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday. HSBC upped their price objective on Freeport-McMoRan from $72.00 to $75.00 in a research note on Friday, June 12th. Freedom Capital upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Saturday, February 21st. Weiss Ratings upgraded shares of Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Finally, Wall Street Zen raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.81.

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.