Nisa Investment Advisors LLC Purchases 27,424 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Nisa Investment Advisors LLC grew its position in Freeport-McMoRan Inc. (NYSE:FCX) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 336,529 shares of the natural resource company’s stock after acquiring an additional 27,424 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $14,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Cape ANN Savings Bank increased its stake in Freeport-McMoRan by 1.6% in the 2nd quarter. Cape ANN Savings Bank now owns 15,588 shares of the natural resource company’s stock worth $624,000 after acquiring an additional 250 shares during the last quarter. FinTrust Capital Advisors LLC increased its position in shares of Freeport-McMoRan by 5.1% during the 4th quarter. FinTrust Capital Advisors LLC now owns 5,252 shares of the natural resource company’s stock valued at $200,000 after purchasing an additional 253 shares during the last quarter. Fulton Bank N.A. increased its position in shares of Freeport-McMoRan by 2.6% during the 4th quarter. Fulton Bank N.A. now owns 10,606 shares of the natural resource company’s stock valued at $451,000 after purchasing an additional 267 shares during the last quarter. Drive Wealth Management LLC increased its position in shares of Freeport-McMoRan by 2.8% during the 4th quarter. Drive Wealth Management LLC now owns 9,840 shares of the natural resource company’s stock valued at $419,000 after purchasing an additional 267 shares during the last quarter. Finally, Sound Income Strategies LLC increased its position in shares of Freeport-McMoRan by 38.8% during the 4th quarter. Sound Income Strategies LLC now owns 965 shares of the natural resource company’s stock valued at $41,000 after purchasing an additional 270 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

FCX has been the topic of several analyst reports. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $41.00 to $48.50 in a research report on Monday, January 8th. UBS Group cut their target price on Freeport-McMoRan from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 13th. Raymond James boosted their target price on Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 target price on shares of Freeport-McMoRan in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.95.

Freeport-McMoRan Price Performance

FCX opened at $50.03 on Tuesday. The business has a fifty day moving average of $41.61 and a 200 day moving average of $39.11. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $50.27. The company has a quick ratio of 1.38, a current ratio of 2.42 and a debt-to-equity ratio of 0.32. The stock has a market cap of $71.76 billion, a P/E ratio of 39.39, a PEG ratio of 1.23 and a beta of 2.04.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share for the quarter, topping 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 business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the prior year, the business earned $0.52 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.51 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company 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 $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio is 23.62%.

About Freeport-McMoRan

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.