Keel Point LLC Has $266,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Keel Point LLC lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 38.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,972 shares of the natural resource company’s stock after purchasing an additional 1,930 shares during the quarter. Keel Point LLC’s holdings in Freeport-McMoRan were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co grew its position in Freeport-McMoRan by 5.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 10,306 shares of the natural resource company’s stock worth $514,000 after acquiring an additional 490 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Freeport-McMoRan in the third quarter valued at approximately $246,000. Wilmington Savings Fund Society FSB bought a new position in Freeport-McMoRan in the 3rd quarter valued at approximately $754,000. Franklin Resources Inc. raised its holdings in 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 valued at $1,348,522,000 after buying an additional 2,366,187 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in Freeport-McMoRan by 0.6% during the 3rd quarter. Retirement Systems of Alabama now owns 318,822 shares of the natural resource company’s stock worth $15,916,000 after buying an additional 1,947 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 3.4 %

FCX opened at $37.63 on Friday. The company has a fifty day moving average price of $36.19 and a two-hundred day moving average price of $39.60. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $55.24. The company has a market cap of $54.08 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. 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 (NYSE:FCX) last issued its earnings results on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The business had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue was down 9.4% compared to the same quarter last year. Analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.59%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan’s payout ratio is currently 24.79%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FCX shares. BMO Capital Markets dropped their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Finally, Raymond James reiterated an “outperform” rating and issued a $52.00 target price on shares of Freeport-McMoRan in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.09.

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.