Stifel Financial Corp Has $56.15 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Stifel Financial Corp increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,474,551 shares of the natural resource company’s stock after purchasing an additional 81,633 shares during the period. Stifel Financial Corp owned approximately 0.10% of Freeport-McMoRan worth $56,151,000 as of its most recent SEC filing.

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

Freeport-McMoRan Trading Up 3.3 %

Shares of Freeport-McMoRan stock opened at $34.04 on Wednesday. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $36.43 and its 200-day moving average is $40.21. The stock has a market cap of $48.92 billion, a P/E ratio of 26.39, a P/E/G ratio of 0.87 and a beta of 1.71.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS 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%. Equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.26%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Hsbc Global Res raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price target for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Raymond James increased their price objective on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Finally, Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.39.

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.