J. Safra Sarasin Holding AG Purchases 6,447 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

J. Safra Sarasin Holding AG boosted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 20.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,609 shares of the natural resource company’s stock after buying an additional 6,447 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Freeport-McMoRan were worth $1,470,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan in the fourth quarter worth $25,000. Mizuho Bank Ltd. acquired a new stake in Freeport-McMoRan in the 4th quarter valued at $26,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan during the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC boosted its stake in shares of 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. Finally, Roxbury Financial LLC bought a new position in shares of Freeport-McMoRan in the 4th quarter valued at about $28,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $34.04 on Wednesday. The stock has a 50 day simple moving average of $36.43 and a 200 day simple moving average of $40.21. The stock has a market cap of $48.92 billion, a P/E ratio of 26.39, a PEG ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last posted 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 return on equity of 7.50% and a net margin of 7.42%. Research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

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 issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio is currently 23.26%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FCX. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Hsbc Global Res raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Wolfe Research upgraded shares of Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 price target for the company in a research note on Wednesday, April 16th. Finally, StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.39.

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.