Investors Asset Management of Georgia Inc. GA ADV Acquires 305 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Investors Asset Management of Georgia Inc. GA ADV increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,714 shares of the natural resource company’s stock after acquiring an additional 305 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Freeport-McMoRan were worth $839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in Freeport-McMoRan during the 1st quarter worth $26,000. KB Financial Partners LLC bought a new stake in Freeport-McMoRan during the 1st quarter worth $26,000. Bruce G. Allen Investments LLC bought a new stake in Freeport-McMoRan during the 4th quarter worth $27,000. Retirement Group LLC grew its position in 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 acquiring an additional 330 shares during the last quarter. Finally, BluePath Capital Management LLC bought a new stake in Freeport-McMoRan during the 3rd quarter worth $28,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX remained flat at $49.82 during midday trading on Thursday. The stock had a trading volume of 10,286,103 shares, compared to its average volume of 13,659,608. The firm has a market capitalization of $71.46 billion, a price-to-earnings ratio of 39.22, a price-to-earnings-growth ratio of 2.23 and a beta of 2.04. 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 fifty day moving average of $43.08 and a 200 day moving average of $39.75. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $52.42.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the prior year, the business earned $0.52 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 1.6 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.62%.

Wall Street Analyst Weigh In

Several brokerages have commented on FCX. JPMorgan Chase & Co. lifted their target price on Freeport-McMoRan from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, April 9th. Scotiabank lifted their target price on Freeport-McMoRan from $48.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Tuesday, April 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 target price on shares of Freeport-McMoRan in a report on Thursday, January 25th. Finally, Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $41.00 to $48.50 in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $47.54.

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.