GoalVest Advisory LLC Boosts Position in Freeport-McMoRan Inc. (NYSE:FCX)

GoalVest Advisory LLC lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 14.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,382 shares of the natural resource company’s stock after purchasing an additional 3,511 shares during the quarter. GoalVest Advisory LLC’s holdings in Freeport-McMoRan were worth $1,075,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Coppell Advisory Solutions LLC grew its holdings in shares of Freeport-McMoRan by 47.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company’s stock worth $32,000 after purchasing an additional 268 shares in the last quarter. Palogic Value Management L.P. grew its holdings in shares of Freeport-McMoRan by 1.5% during the fourth 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. CIBC Private Wealth Group LLC grew its holdings in shares of Freeport-McMoRan by 0.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company’s stock worth $1,451,000 after purchasing an additional 309 shares in the last quarter. Inspire Advisors LLC grew its holdings in shares of Freeport-McMoRan by 2.6% during the fourth quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company’s stock worth $494,000 after purchasing an additional 325 shares in the last quarter. Finally, Soltis Investment Advisors LLC grew its holdings in shares of Freeport-McMoRan by 3.6% during the fourth quarter. Soltis Investment Advisors LLC now owns 10,090 shares of the natural resource company’s stock worth $384,000 after purchasing an additional 346 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $39.06 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $53.29. The stock has a 50 day moving average price of $36.36 and a two-hundred day moving average price of $38.48. The company has a market capitalization of $56.12 billion, a P/E ratio of 30.28, a PEG ratio of 0.87 and a beta of 1.65.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. The business’s revenue was down 9.4% on a year-over-year basis. Analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.54%. Freeport-McMoRan’s dividend payout ratio is presently 24.79%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FCX. Hsbc Global Res raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. UBS Group dropped their target price on Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Wall Street Zen downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Raymond James restated an “outperform” rating and issued a $52.00 target price on shares of Freeport-McMoRan in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their target price on Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.36.

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.