Freeport-McMoRan Inc. (NYSE:FCX) Stock Position Raised by Mraz Amerine & Associates Inc.

Mraz Amerine & Associates Inc. lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 58,791 shares of the natural resource company’s stock after acquiring an additional 3,294 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in Freeport-McMoRan were worth $2,503,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fairfield Bush & CO. bought a new stake in shares of Freeport-McMoRan during the 1st quarter worth $26,000. KB Financial Partners LLC acquired a new stake in shares of Freeport-McMoRan in the first quarter worth $26,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter worth $27,000. Retirement Group LLC boosted its position in shares of Freeport-McMoRan by 97.1% in the second quarter. Retirement Group LLC now owns 670 shares of the natural resource company’s stock worth $27,000 after buying an additional 330 shares during the period. Finally, BluePath Capital Management LLC acquired a new stake in shares of Freeport-McMoRan in the third quarter worth $28,000. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Stock Up 0.8 %

NYSE FCX traded up $0.40 during trading on Wednesday, hitting $49.81. 15,793,245 shares of the company traded hands, compared to its average volume of 13,708,850. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $52.42. The business has a fifty day simple moving average of $42.87 and a 200 day simple moving average of $39.68. The company has a current ratio of 2.42, a quick ratio of 1.38 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $71.45 billion, a P/E ratio of 39.09, a PEG ratio of 2.26 and a beta of 2.04.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.6 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 annualized dividend and a yield of 1.20%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.62%.

Analyst Ratings Changes

Several brokerages have recently commented on FCX. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, April 9th. JPMorgan Chase & Co. raised their target price on Freeport-McMoRan from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 target price on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $41.00 to $48.50 in a research report on Monday, January 8th. Finally, Raymond James lifted their price objective on Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Freeport-McMoRan has an average rating of “Hold” and a consensus target price of $47.54.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.