RWA Wealth Partners LLC Increases Stake in Freeport-McMoRan Inc. (NYSE:FCX)

RWA Wealth Partners LLC increased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,794 shares of the natural resource company’s stock after buying an additional 2,579 shares during the period. RWA Wealth Partners LLC’s holdings in Freeport-McMoRan were worth $1,858,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FCX. Vanguard Group Inc. lifted its stake in shares of Freeport-McMoRan by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company’s stock valued at $4,692,191,000 after purchasing an additional 642,776 shares during the period. Geode Capital Management LLC lifted its position in Freeport-McMoRan by 1.9% during the third quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock valued at $1,436,455,000 after buying an additional 529,099 shares during the period. Franklin Resources Inc. grew its position in shares of Freeport-McMoRan by 9.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after buying an additional 2,366,187 shares during the period. Amundi increased its stake in shares of Freeport-McMoRan by 30.2% in the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company’s stock worth $857,305,000 after acquiring an additional 5,001,531 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Freeport-McMoRan by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company’s stock valued at $619,682,000 after acquiring an additional 4,488,210 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Down 1.5 %

Shares of FCX stock opened at $37.85 on Tuesday. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24. The stock has a market cap of $54.39 billion, a P/E ratio of 29.34, a P/E/G ratio of 0.87 and a beta of 1.87. The company has a 50 day simple moving average of $38.09 and a two-hundred day simple moving average of $41.95.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 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 year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio is 23.26%.

Analyst Ratings Changes

A number of equities analysts have weighed in on FCX shares. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Scotiabank dropped their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, BMO Capital Markets dropped their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.04.

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.