ORG Wealth Partners LLC Buys 673 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

by · The Markets Daily

ORG Wealth Partners LLC grew its stake in Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 26.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,259 shares of the natural resource company’s stock after purchasing an additional 673 shares during the period. ORG Wealth Partners LLC’s holdings in Freeport-McMoRan were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of FCX. Acadian Asset Management LLC bought a new stake in shares of Freeport-McMoRan in the 2nd quarter valued at approximately $99,000. LPL Financial LLC grew its stake in shares of Freeport-McMoRan by 14.1% in the 2nd quarter. LPL Financial LLC now owns 1,575,356 shares of the natural resource company’s stock valued at $76,562,000 after purchasing an additional 195,108 shares during the period. Johnson Investment Counsel Inc. acquired a new position in shares of Freeport-McMoRan in the 2nd quarter worth approximately $239,000. Main Street Financial Solutions LLC boosted its holdings in shares of Freeport-McMoRan by 7.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 19,765 shares of the natural resource company’s stock worth $961,000 after acquiring an additional 1,401 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Freeport-McMoRan by 6.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 212,302 shares of the natural resource company’s stock worth $10,318,000 after acquiring an additional 12,058 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $38.99 on Friday. The firm has a fifty day moving average of $42.09 and a two-hundred day moving average of $44.74. The stock has a market capitalization of $56.03 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 2.90 and a beta of 1.87. Freeport-McMoRan Inc. has a 52 week low of $36.26 and a 52 week high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last issued its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. The company had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.45 billion. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 1.49 EPS for the current year.

Freeport-McMoRan Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.15 per share. This is a boost from Freeport-McMoRan’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.54%. Freeport-McMoRan’s payout ratio is presently 21.90%.

Analyst Ratings Changes

Several brokerages have recently commented on FCX. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Raymond James boosted their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Scotiabank reduced their target price on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group reduced their target price on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.96.

Read Our Latest Report on FCX

Freeport-McMoRan Profile

(Free Report)

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.

See Also

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