CVA Family Office LLC Makes New Investment in Freeport-McMoRan Inc. (NYSE:FCX)

CVA Family Office LLC bought a new stake in Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 892 shares of the natural resource company’s stock, valued at approximately $38,000.

Several other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in Freeport-McMoRan by 102.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,698,016 shares of the natural resource company’s stock worth $355,838,000 after purchasing an additional 4,410,429 shares during the last quarter. Capital Wealth Planning LLC bought a new stake in shares of Freeport-McMoRan during the 3rd quarter worth $160,160,000. Mizuho Markets Americas LLC acquired a new stake in Freeport-McMoRan in the third quarter valued at about $141,407,000. Imprint Wealth LLC raised its stake in Freeport-McMoRan by 1,678.9% during the second quarter. Imprint Wealth LLC now owns 2,098,587 shares of the natural resource company’s stock worth $209,859,000 after acquiring an additional 1,980,616 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd lifted its holdings in shares of Freeport-McMoRan by 57.4% in the third quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock worth $201,039,000 after acquiring an additional 1,965,987 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley dropped their price target on Freeport-McMoRan from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, December 7th. UBS Group lowered their price objective on Freeport-McMoRan from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Wednesday, December 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 target price on shares of Freeport-McMoRan in a research note on Thursday, January 25th. Raymond James increased their price target on Freeport-McMoRan from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, Sanford C. Bernstein upgraded shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $41.00 to $48.50 in a research note on Monday, January 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan currently has an average rating of “Hold” and a consensus target price of $44.95.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $46.99 on Friday. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $47.19. The company has a market capitalization of $67.40 billion, a price-to-earnings ratio of 37.00 and a beta of 2.02. The stock has a 50 day moving average of $40.26 and a 200 day moving average of $38.67. The company has a current ratio of 2.42, a quick ratio of 1.38 and a debt-to-equity ratio of 0.32.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.85 billion. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. Freeport-McMoRan’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.53 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.28%. Freeport-McMoRan’s payout ratio is 23.62%.

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.