Worth Financial Advisory Group LLC Acquires 450 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Worth Financial Advisory Group LLC boosted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,820 shares of the natural resource company’s stock after buying an additional 450 shares during the period. Worth Financial Advisory Group LLC’s holdings in Freeport-McMoRan were worth $1,059,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Continuum Advisory LLC lifted its stake in shares of Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after buying an additional 236 shares during the period. PFG Investments LLC lifted its position in shares of Freeport-McMoRan by 1.3% in the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock worth $872,000 after acquiring an additional 283 shares during the period. Larson Financial Group LLC lifted its position in shares of Freeport-McMoRan by 14.6% in the 3rd quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock worth $112,000 after acquiring an additional 287 shares during the period. Palogic Value Management L.P. grew its holdings in shares of Freeport-McMoRan by 1.5% during the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock worth $772,000 after purchasing an additional 292 shares in the last quarter. Finally, SeaCrest Wealth Management LLC increased its position in shares of Freeport-McMoRan by 1.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock valued at $727,000 after purchasing an additional 307 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Thursday, March 6th. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, BMO Capital Markets lowered their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Stock Down 3.6 %

Shares of NYSE FCX opened at $41.48 on Thursday. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. The firm’s 50-day simple moving average is $38.18 and its 200 day simple moving average is $41.99. 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 company has a market cap of $59.61 billion, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

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

Freeport-McMoRan Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.45%. Freeport-McMoRan’s payout ratio is 23.26%.

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.