Fiera Capital Corp Grows Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Fiera Capital Corp raised its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 10.1% in the 2nd quarter, Holdings Channel reports. The fund owned 87,131 shares of the natural resource company’s stock after acquiring an additional 8,019 shares during the quarter. Fiera Capital Corp’s holdings in Freeport-McMoRan were worth $4,235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in FCX. International Assets Investment Management LLC increased its stake in shares of Freeport-McMoRan by 16.5% during the fourth quarter. International Assets Investment Management LLC now owns 31,112 shares of the natural resource company’s stock worth $1,324,000 after acquiring an additional 4,397 shares during the period. Sapient Capital LLC purchased a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $200,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $262,000. Apollon Wealth Management LLC grew its holdings in Freeport-McMoRan by 99.5% during the fourth quarter. Apollon Wealth Management LLC now owns 31,745 shares of the natural resource company’s stock worth $1,351,000 after acquiring an additional 15,832 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Freeport-McMoRan in the fourth quarter worth $218,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Freeport-McMoRan from $48.00 to $51.00 and gave the stock a “hold” rating in a research report on Monday, June 10th. BNP Paribas raised Freeport-McMoRan to a “strong-buy” rating in a report on Friday, June 21st. Raymond James lowered their price objective on shares of Freeport-McMoRan from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. UBS Group raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and upped their price target for the company from $54.00 to $55.00 in a report on Wednesday. Finally, Morgan Stanley raised shares of Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $49.50 to $62.00 in a research note on Friday, June 21st. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.07.

Freeport-McMoRan Trading Up 0.6 %

Shares of FCX stock opened at $41.61 on Thursday. Freeport-McMoRan Inc. has a 1-year low of $32.83 and a 1-year high of $55.24. The firm’s 50-day simple moving average is $45.47 and its 200-day simple moving average is $46.82. The firm has a market cap of $59.77 billion, a P/E ratio of 36.82, a PEG ratio of 2.08 and a beta of 1.92. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.40 and a quick ratio of 1.34.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Tuesday, July 23rd. The natural resource company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6 billion. Freeport-McMoRan had a net margin of 7.83% and a return on equity of 7.60%. Freeport-McMoRan’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the business earned $0.35 EPS. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 15th were issued a $0.15 dividend. The ex-dividend date was Monday, July 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.44%. Freeport-McMoRan’s dividend payout ratio (DPR) is 26.55%.

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.