Freeport-McMoRan Inc. $FCX Shares Purchased by Fiera Capital Corp

Fiera Capital Corp increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 131.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 681,856 shares of the natural resource company’s stock after purchasing an additional 386,647 shares during the quarter. Fiera Capital Corp’s holdings in Freeport-McMoRan were worth $34,631,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV increased its position in Freeport-McMoRan by 49.0% during 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 in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Freeport-McMoRan during the 4th quarter worth approximately $8,857,000. Wellington Management Group LLP increased its position in Freeport-McMoRan by 190.9% during 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 grew its position in Freeport-McMoRan by 426.3% in the third quarter. Dynamic Technology Lab Private Ltd now owns 81,892 shares of the natural resource company’s stock valued at $3,212,000 after acquiring an additional 66,331 shares in the last quarter. Finally, Powszechne Towarzystwo Emerytalne Allianz Polska S.A. grew 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 acquiring an additional 878,760 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on FCX shares. BNP Paribas Exane lowered their price objective on shares of Freeport-McMoRan from $75.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, April 28th. Barclays started coverage on shares of Freeport-McMoRan in a research report on Thursday, May 21st. They issued an “overweight” rating and a $77.00 price objective for the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $66.00 price objective (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday, April 24th. Scotiabank lowered their price objective on shares of 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. Finally, Wall Street Zen downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $63.83 on Tuesday. The business’s fifty day moving average price is $63.63 and its 200 day moving average price is $58.48. Freeport-McMoRan Inc. has a 12-month low of $35.15 and a 12-month high of $72.09. The stock has a market capitalization of $91.76 billion, a PE ratio of 33.95, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.73 billion. During the same period last year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors 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 yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is 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.