Greenleaf Trust acquires 1,817 shares of Freeport-McMoRan Inc. (NYSE:FCX)

Greenleaf Trust increased its stake in Freeport-McMoRan Inc. (NYSE:FCX – Free Report) rose 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,647 shares of the natural resources company, after purchasing an additional 1,817 shares during the quarter. Greenleaf Trust’s holdings in Freeport-McMoRan were worth $1,049,000 at the time of the most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new stake in Freeport-McMoRan stock worth approximately $26,000 in the first quarter. Synovus Financial Corp increased its stake in Freeport-McMoRan by 15.2% in the first quarter. Synovus Financial Corp now owns 11,101 shares of the natural resources company’s stock valued at $553,000 after acquiring an additional 1,468 shares in the last quarter. Blair William & Co. IL increased its position in Freeport-McMoRan by 40.8% in the first quarter. Blair William & Co. IL now owns 112,066 shares of the natural resources company’s stock worth $5,574,000 after purchasing an additional 32,474 shares during the period. Sei Investments Co. increased its stake in Freeport-McMoRan by 73.6% during the first quarter. Sei Investments Co. now owns 132,043 shares of the natural resources company’s stock worth $6,624,000 after purchasing an additional 55,987 shares during the last quarter. Finally, Baird Financial Group Inc. its position in Freeport-McMoRan increased by 22.0% during the first quarter. Baird Financial Group Inc. now owns 79,686 shares of the natural resources company’s stock valued at $3,964,000 after purchasing an additional 14,388 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s shares.

Freeport-McMoRan shares fell 1.1%

NYSE:FCX opened at $49.61 on Monday. The stock has a 50-day simple moving average of $43.57 and a 200-day simple moving average of $39.96. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $52.42. The company has a market cap of $71.16 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 2.28, and a beta of 2.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.38 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last reported its quarterly results on Wednesday, January 24. The natural resources company reported $0.27 earnings per share for the quarter, beating 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 company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter of the previous year, the company posted earnings per share of $0.52. The company’s revenue rose 2.6% year over year. On average, sell-side analysts expect Freeport-McMoRan Inc. will record a profit per share of 1.57 for the current financial year.

Freeport-McMoRan announces dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1. A dividend of $0.15 will be paid to shareholders of record on Monday, April 15. The ex-dividend date of this dividend is Friday, April 12. This represents a dividend of $0.60 annually and a yield of 1.21%. Freeport-McMoRan’s payout ratio currently stands at 23.62%.

Changes in analyst ratings

FCX has been the subject of several analyst reports. 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 9. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $41.00 to $48.50 in a report on Monday, January 8. JPMorgan Chase & Co. raised their price target on Freeport-McMoRan from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price target on shares of Freeport-McMoRan in a research note on Thursday, January 25. Finally, Raymond James raised their target price on Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus target price of $49.23.

Get our latest stock analysis on FCX

Freeport-McMoRan company profile

(Free report)

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America and Indonesia. The main search is for copper, gold, molybdenum, silver and other metals. The company’s assets include the Grasberg mineral district in Indonesia; Morenci, Baghdad, 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.

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Want to see which other hedge funds own FCX? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Freeport-McMoRan Inc. (NYSE:FCX – Free Report).

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