Gamco Investors INC. ET AL Increases Position in Freeport-McMoRan Inc. (NYSE:FCX)

Gamco Investors INC. ET AL lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,021,616 shares of the natural resource company’s stock after buying an additional 726 shares during the period. Gamco Investors INC. ET AL owned approximately 0.07% of Freeport-McMoRan worth $38,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FCX. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan in the fourth quarter valued at approximately $25,000. Mizuho Bank Ltd. purchased a new position in Freeport-McMoRan during the 4th quarter worth $26,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan in the 4th quarter worth $27,000. Laurel Wealth Advisors LLC boosted its holdings in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $33.69 on Tuesday. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $48.41 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. The business’s 50-day moving average price is $37.04 and its 200 day moving average price is $40.86. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its 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%. On average, research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.78%. Freeport-McMoRan’s dividend payout ratio is currently 23.26%.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. BMO Capital Markets decreased their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price objective for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. Finally, Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.88.

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.