New Age Alpha Advisors LLC Purchases New Position in Freeport-McMoRan Inc. (NYSE:FCX)

New Age Alpha Advisors LLC purchased a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 58,987 shares of the natural resource company’s stock, valued at approximately $2,246,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Asset Planning Inc purchased a new stake in Freeport-McMoRan in the 4th quarter valued at about $25,000. Vision Financial Markets LLC purchased a new stake in Freeport-McMoRan during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC grew its stake in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after buying an additional 600 shares during the last quarter. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter valued at about $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Freeport-McMoRan in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FCX shares. BMO Capital Markets reduced their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.04.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $38.36 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 1-year low of $33.98 and a 1-year high of $55.24. The firm has a fifty day moving average of $38.14 and a two-hundred day moving average of $41.97. The firm has a market cap of $55.13 billion, a P/E ratio of 29.74, a P/E/G ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.56%. Freeport-McMoRan’s payout ratio is presently 23.26%.

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.