Investors Asset Management of Georgia Inc. GA ADV Purchases 305 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 19,714 shares of the natural resource company’s stock after acquiring an additional 305 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Freeport-McMoRan were worth $839,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CM Management LLC boosted its position in Freeport-McMoRan by 80.0% during the 3rd quarter. CM Management LLC now owns 36,000 shares of the natural resource company’s stock valued at $1,342,000 after acquiring an additional 16,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Freeport-McMoRan by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company’s stock worth $279,977,000 after purchasing an additional 102,466 shares in the last quarter. Cadinha & Co. LLC boosted its position in shares of Freeport-McMoRan by 59.0% in the 4th quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company’s stock worth $27,572,000 after purchasing an additional 240,340 shares in the last quarter. Alphinity Investment Management Pty Ltd boosted its position in shares of Freeport-McMoRan by 57.4% in the 3rd quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock worth $201,039,000 after purchasing an additional 1,965,987 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC boosted its position in shares of Freeport-McMoRan by 6.4% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock worth $14,726,000 after purchasing an additional 20,894 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX remained flat at $49.82 during midday trading on Thursday. The stock had a trading volume of 10,286,103 shares, compared to its average volume of 13,659,608. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.38 and a current ratio of 2.42. The firm has a market cap of $71.46 billion, a P/E ratio of 39.22, a price-to-earnings-growth ratio of 2.23 and a beta of 2.04. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $52.42. The business has a 50-day simple moving average of $43.08 and a two-hundred day simple moving average of $39.75.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.85 billion. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. Freeport-McMoRan’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 EPS. Research analysts expect that Freeport-McMoRan Inc. will post 1.6 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a $0.15 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. Freeport-McMoRan’s dividend payout ratio (DPR) is 23.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FCX. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $41.00 to $48.50 in a research report on Monday, January 8th. Raymond James upped their price objective on Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. Scotiabank upped their price objective on Freeport-McMoRan from $48.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price objective on Freeport-McMoRan from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.54.

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.