Focus Partners Advisor Solutions LLC Increases Holdings in Freeport-McMoRan Inc. $FCX

Focus Partners Advisor Solutions LLC lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 66.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,551 shares of the natural resource company’s stock after purchasing an additional 19,313 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Freeport-McMoRan were worth $2,466,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in Freeport-McMoRan during the fourth quarter valued at approximately $38,000. Modus Advisors LLC purchased a new position in Freeport-McMoRan during the fourth quarter valued at approximately $40,000. Key Financial Inc raised its position in Freeport-McMoRan by 32.3% during 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 in the last quarter. JPL Wealth Management LLC purchased a new position in Freeport-McMoRan during the third quarter valued at approximately $33,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Freeport-McMoRan during the fourth quarter valued at approximately $43,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Down 3.2%

Shares of FCX opened at $62.18 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 12 month low of $35.15 and a 12 month high of $72.09. The stock’s 50 day moving average is $63.95 and its two-hundred day moving average is $58.80. The firm has a market cap of $89.39 billion, a P/E ratio of 33.08, a PEG ratio of 0.77 and a beta of 1.35.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating 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 company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period 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. Analysts predict that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 15.96%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FCX. Freedom Capital upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. HSBC lifted their price target on Freeport-McMoRan from $69.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Stifel Nicolaus lifted their price target on Freeport-McMoRan from $52.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Raymond James Financial reduced 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. Finally, Scotiabank reduced 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. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.72.

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.