D L Carlson Investment Group Inc. lifted its holdings in Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 37.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 156,602 shares of the natural resource company’s stock after buying an additional 42,619 shares during the quarter. Freeport-McMoRan makes up about 1.5% of D L Carlson Investment Group Inc.’s portfolio, making the stock its 23rd biggest position. D L Carlson Investment Group Inc.’s holdings in Freeport-McMoRan were worth $6,407,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. CENTRAL TRUST Co lifted its stake in Freeport-McMoRan by 2.5% in the 1st quarter. CENTRAL TRUST Co now owns 10,450 shares of the natural resource company’s stock valued at $428,000 after buying an additional 250 shares in the last quarter. FinTrust Capital Advisors LLC raised its holdings in shares of Freeport-McMoRan by 5.1% during the fourth quarter. FinTrust Capital Advisors LLC now owns 5,252 shares of the natural resource company’s stock valued at $200,000 after acquiring an additional 253 shares during the last quarter. Stephens Consulting LLC lifted its position in shares of Freeport-McMoRan by 28.0% in the first quarter. Stephens Consulting LLC now owns 1,280 shares of the natural resource company’s stock valued at $52,000 after acquiring an additional 280 shares in the last quarter. Atlas Brown Inc. boosted its stake in shares of Freeport-McMoRan by 3.7% in the first quarter. Atlas Brown Inc. now owns 7,866 shares of the natural resource company’s stock worth $322,000 after acquiring an additional 284 shares during the last quarter. Finally, Ancora Advisors LLC increased its position in shares of Freeport-McMoRan by 9.7% during the first quarter. Ancora Advisors LLC now owns 3,400 shares of the natural resource company’s stock worth $139,000 after purchasing an additional 300 shares in the last quarter. 77.96% of the stock is owned by hedge funds and other institutional investors.
Freeport-McMoRan Stock Down 0.1 %
Shares of FCX opened at $40.06 on Wednesday. The company’s 50-day moving average price is $40.82 and its 200 day moving average price is $39.30. Freeport-McMoRan Inc. has a 12-month low of $26.03 and a 12-month high of $46.73. The company has a current ratio of 2.94, a quick ratio of 1.72 and a debt-to-equity ratio of 0.36. The firm has a market cap of $57.43 billion, a P/E ratio of 27.63 and a beta of 2.07.
Freeport-McMoRan Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 14th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Thursday, July 13th. Freeport-McMoRan’s dividend payout ratio (DPR) is 20.69%.
Analysts Set New Price Targets
Several equities research analysts have issued reports on FCX shares. Scotiabank lowered their target price on shares of Freeport-McMoRan from $49.00 to $48.00 in a research note on Tuesday, July 25th. Sanford C. Bernstein started coverage on shares of Freeport-McMoRan in a report on Thursday, June 29th. They issued a “market perform” rating and a $41.00 price objective for the company. Stifel Nicolaus lowered their target price on Freeport-McMoRan from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, August 22nd. Morgan Stanley restated an “equal weight” rating and issued a $38.50 price target on shares of Freeport-McMoRan in a research report on Friday, July 21st. Finally, 1-800-FLOWERS.COM reissued an “initiates” rating on shares of Freeport-McMoRan in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $39.96.
Read Our Latest Report on Freeport-McMoRan
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, as well as oil and gas. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.
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