Evanson Asset Management LLC Has $345,000 Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Evanson Asset Management LLC increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 19.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,060 shares of the natural resource company’s stock after buying an additional 1,500 shares during the quarter. Evanson Asset Management LLC’s holdings in Freeport-McMoRan were worth $345,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Matrix Trust Co acquired a new stake in shares of Freeport-McMoRan during the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Freeport-McMoRan during the 2nd quarter worth approximately $27,000. Laurel Wealth Advisors LLC lifted its stake in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares in the last quarter. Godsey & Gibb Inc. boosted its holdings in shares of Freeport-McMoRan by 150.4% in the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after buying an additional 346 shares during the period. Finally, Continuum Advisory LLC increased its position in shares of Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $40.27 on Tuesday. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $57.86 billion, a P/E ratio of 29.39, a P/E/G ratio of 2.13 and a beta of 1.87. Freeport-McMoRan Inc. has a 12 month low of $36.26 and a 12 month high of $55.24. The stock has a 50 day moving average of $41.15 and a 200-day moving average of $44.20.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.45 billion. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 1.46 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.60 annualized dividend and a yield of 1.49%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 21.90%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Raymond James upped their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Scotiabank lowered their price objective on shares of Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.42.

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.