Rosenberg Matthew Hamilton Purchases 513 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Rosenberg Matthew Hamilton increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 19.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,116 shares of the natural resource company’s stock after purchasing an additional 513 shares during the period. Rosenberg Matthew Hamilton’s holdings in Freeport-McMoRan were worth $119,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Freeport-McMoRan in the second quarter worth about $99,000. Envestnet Asset Management Inc. lifted its holdings in Freeport-McMoRan by 5.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,319,066 shares of the natural resource company’s stock worth $64,107,000 after purchasing an additional 73,340 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in Freeport-McMoRan by 18.3% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 16,265 shares of the natural resource company’s stock worth $790,000 after purchasing an additional 2,514 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in Freeport-McMoRan in the 2nd quarter worth approximately $619,000. Finally, Mesirow Financial Investment Management Inc. grew its holdings in Freeport-McMoRan by 16.1% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 15,367 shares of the natural resource company’s stock valued at $747,000 after buying an additional 2,128 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 0.2 %

Shares of FCX opened at $39.47 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52-week low of $36.26 and a 52-week high of $55.24. The company has a market cap of $56.72 billion, a PE ratio of 28.81, a P/E/G ratio of 2.90 and a beta of 1.87. The business has a fifty day moving average of $41.83 and a 200 day moving average of $44.53.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.45 billion. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.49 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.52%. Freeport-McMoRan’s dividend payout ratio is 21.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FCX shares. JPMorgan Chase & Co. upped their target price on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Jefferies Financial Group cut their price objective on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Raymond James boosted their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley cut their price target on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, September 19th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.96.

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.