Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. boosted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,435 shares of the natural resource company’s stock after purchasing an additional 3,981 shares during the period. Atria Wealth Solutions Inc.’s holdings in Freeport-McMoRan were worth $2,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Wolverine Asset Management LLC raised its position in shares of Freeport-McMoRan by 50.0% in the fourth quarter. Wolverine Asset Management LLC now owns 24,000 shares of the natural resource company’s stock worth $1,022,000 after acquiring an additional 8,000 shares during the period. GAMMA Investing LLC acquired a new position in shares of Freeport-McMoRan in the fourth quarter worth about $337,000. Harbor Advisors LLC acquired a new position in shares of Freeport-McMoRan in the fourth quarter worth about $213,000. Parkside Financial Bank & Trust raised its position in shares of Freeport-McMoRan by 63.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 8,644 shares of the natural resource company’s stock worth $368,000 after acquiring an additional 3,342 shares during the period. Finally, Marks Group Wealth Management Inc acquired a new position in shares of Freeport-McMoRan in the fourth quarter worth about $204,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on FCX shares. HSBC upped their price objective on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Scotiabank reduced their price target on shares of Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating for the company in a research report on Wednesday, April 24th. Bernstein Bank upped their price target on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Tuesday, April 9th. Finally, StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus target price of $50.07.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $50.50 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.38 and a current ratio of 2.35. The stock has a market capitalization of $72.44 billion, a P/E ratio of 44.69, a PEG ratio of 8.18 and a beta of 2.04. The company has a 50 day moving average price of $44.70 and a 200 day moving average price of $40.40. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $52.42.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $0.52 EPS. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.67 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. Freeport-McMoRan’s payout ratio is currently 26.55%.

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.