19,009 Shares in Freeport-McMoRan Inc. $FCX Acquired by Caerus Investment Advisors LLC

Caerus Investment Advisors LLC bought a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 19,009 shares of the natural resource company’s stock, valued at approximately $965,000.

Several other hedge funds have also added to or reduced their stakes in FCX. JPL Wealth Management LLC acquired a new position in shares of Freeport-McMoRan in the 3rd quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $38,000. Modus Advisors LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $40,000. Key Financial Inc lifted its position in shares of Freeport-McMoRan by 32.3% in the 4th quarter. Key Financial Inc now owns 828 shares of the natural resource company’s stock worth $42,000 after purchasing an additional 202 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $43,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FCX. Barclays began coverage on shares of Freeport-McMoRan in a research report on Thursday, May 21st. They issued an “overweight” rating and a $77.00 price target on the stock. Wall Street Zen downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Wells Fargo & Company dropped their price target on shares of Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Sanford C. Bernstein boosted their price target on shares of Freeport-McMoRan from $53.50 to $58.50 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Freedom Capital upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.72.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $66.32 on Friday. The company has a fifty day moving average of $64.10 and a 200-day moving average of $58.98. The firm has a market capitalization of $95.34 billion, a P/E ratio of 35.28, a P/E/G ratio of 0.75 and a beta of 1.35. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $72.09.

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

Freeport-McMoRan Announces Dividend

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

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.