KCM Investment Advisors LLC Boosts Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

KCM Investment Advisors LLC increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,623 shares of the natural resource company’s stock after purchasing an additional 1,855 shares during the quarter. KCM Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $2,423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FCX. Sanctuary Advisors LLC raised its position in shares of Freeport-McMoRan by 9.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock valued at $8,219,000 after purchasing an additional 14,501 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Freeport-McMoRan in the third quarter valued at $754,000. Madison Investment Advisors LLC bought a new position in Freeport-McMoRan during the 4th quarter valued at $3,388,000. Principal Financial Group Inc. grew its holdings in Freeport-McMoRan by 4.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock worth $84,085,000 after acquiring an additional 66,699 shares in the last quarter. Finally, Czech National Bank increased its position in shares of Freeport-McMoRan by 6.4% in the 4th quarter. Czech National Bank now owns 311,555 shares of the natural resource company’s stock worth $11,864,000 after purchasing an additional 18,852 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $29.14 on Friday. Freeport-McMoRan Inc. has a 12-month low of $28.49 and a 12-month 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. The company has a market cap of $41.88 billion, a PE ratio of 22.59, a P/E/G ratio of 0.87 and a beta of 1.71. The stock has a 50 day simple moving average of $37.75 and a 200-day simple moving average of $41.73.

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

Freeport-McMoRan Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.06%. Freeport-McMoRan’s dividend payout ratio (DPR) is 23.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FCX shares. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Monday, March 31st. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price target for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $48.00 to $52.00 in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.61.

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.