Fidelis Capital Partners LLC Has $449,000 Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Fidelis Capital Partners LLC lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 30.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,538 shares of the natural resource company’s stock after purchasing an additional 2,447 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Freeport-McMoRan were worth $449,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fairfield Bush & CO. acquired a new position in shares of Freeport-McMoRan during the 1st quarter worth $26,000. KB Financial Partners LLC bought a new stake in shares of Freeport-McMoRan during the 1st quarter worth $26,000. Bruce G. Allen Investments LLC bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth $27,000. Retirement Group LLC boosted its holdings in shares of Freeport-McMoRan by 97.1% during the 2nd quarter. Retirement Group LLC now owns 670 shares of the natural resource company’s stock worth $27,000 after buying an additional 330 shares during the period. Finally, BluePath Capital Management LLC bought a new stake in shares of Freeport-McMoRan during the 3rd quarter worth $28,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Scotiabank upped their price objective on shares of Freeport-McMoRan from $48.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Tuesday, April 9th. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and increased their price target for the company from $41.00 to $48.50 in a report on Monday, January 8th. Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price target for the company in a report on Tuesday, April 9th. JPMorgan Chase & Co. raised their price objective on shares of Freeport-McMoRan from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Raymond James raised their price objective on shares of Freeport-McMoRan from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Freeport-McMoRan presently has a consensus rating of “Hold” and an average price target of $47.54.

Freeport-McMoRan Trading Down 1.1 %

Shares of Freeport-McMoRan stock opened at $49.62 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.42 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $71.18 billion, a P/E ratio of 39.07, a price-to-earnings-growth ratio of 2.30 and a beta of 2.04. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month high of $52.42. The company has a 50-day simple moving average of $43.57 and a 200 day simple moving average of $39.91.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. Research analysts expect that Freeport-McMoRan Inc. will post 1.57 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.62%.

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.