Valley National Advisers Inc. Buys 441 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Valley National Advisers Inc. raised its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 63.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,140 shares of the natural resource company’s stock after purchasing an additional 441 shares during the period. Valley National Advisers Inc.’s holdings in Freeport-McMoRan were worth $48,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Freeport-McMoRan by 0.3% during the third quarter. Vanguard Group Inc. now owns 119,369,409 shares of the natural resource company’s stock valued at $4,451,285,000 after purchasing an additional 305,912 shares during the period. Geode Capital Management LLC boosted its stake in shares of Freeport-McMoRan by 1.9% in the first quarter. Geode Capital Management LLC now owns 25,338,465 shares of the natural resource company’s stock worth $1,033,858,000 after acquiring an additional 472,160 shares during the period. Northern Trust Corp boosted its stake in shares of Freeport-McMoRan by 4.2% in the third quarter. Northern Trust Corp now owns 17,756,034 shares of the natural resource company’s stock worth $662,123,000 after acquiring an additional 709,114 shares during the period. Morgan Stanley boosted its stake in shares of Freeport-McMoRan by 4.8% in the fourth quarter. Morgan Stanley now owns 16,533,638 shares of the natural resource company’s stock worth $628,278,000 after acquiring an additional 753,458 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Freeport-McMoRan by 102.9% in 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 acquiring an additional 4,410,429 shares during the period. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 0.8 %

Shares of FCX stock opened at $50.90 on Thursday. Freeport-McMoRan Inc. has a 1 year low of $32.83 and a 1 year high of $52.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.42 and a quick ratio of 1.38. The stock’s 50 day simple moving average is $42.06 and its two-hundred day simple moving average is $39.30. The company has a market cap of $73.01 billion, a PE ratio of 40.08, a price-to-earnings-growth ratio of 1.23 and a beta of 2.04.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts predict that Freeport-McMoRan Inc. will post 1.53 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be issued a $0.15 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.18%. Freeport-McMoRan’s payout ratio is 23.62%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FCX shares. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Tuesday. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $41.00 to $48.50 in a research note on Monday, January 8th. Scotiabank upped their price objective on Freeport-McMoRan from $48.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. UBS Group dropped their price objective on Freeport-McMoRan from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, December 13th. Finally, Raymond James boosted their target price on Freeport-McMoRan from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.71.

Freeport-McMoRan 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.