Freeport-McMoRan Inc. (NYSE:FCX) Stock Holdings Raised by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC grew its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 50,974 shares of the natural resource company’s stock after purchasing an additional 1,926 shares during the period. Integrated Wealth Concepts LLC’s holdings in Freeport-McMoRan were worth $1,941,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FCX. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in Freeport-McMoRan by 12.3% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 188,781 shares of the natural resource company’s stock worth $7,240,000 after buying an additional 20,729 shares during the last quarter. Coppell Advisory Solutions LLC lifted its stake in Freeport-McMoRan by 47.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company’s stock worth $32,000 after purchasing an additional 268 shares during the last quarter. MGO One Seven LLC boosted its holdings in Freeport-McMoRan by 103.1% in the fourth quarter. MGO One Seven LLC now owns 16,299 shares of the natural resource company’s stock worth $621,000 after purchasing an additional 8,273 shares during the period. Pinebridge Investments L.P. increased its stake in Freeport-McMoRan by 99.9% during the fourth quarter. Pinebridge Investments L.P. now owns 338,821 shares of the natural resource company’s stock valued at $12,902,000 after purchasing an additional 169,361 shares during the last quarter. Finally, Spartan Fund Management Inc. acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $190,000. Institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on FCX. BMO Capital Markets decreased their price target 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. JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Scotiabank dropped their price target on Freeport-McMoRan from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. UBS Group reduced their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Finally, 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 research report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Freeport-McMoRan Trading Down 0.8 %

Freeport-McMoRan stock opened at $37.32 on Monday. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The stock has a market capitalization of $53.63 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. The firm has a 50 day simple moving average of $36.27 and a 200-day simple moving average of $39.88.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the business posted $0.32 earnings per share. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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 $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.61%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 24.79%.

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.