First Hawaiian Bank Has $1.10 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

First Hawaiian Bank boosted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 37.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,750 shares of the natural resource company’s stock after buying an additional 7,808 shares during the quarter. First Hawaiian Bank’s holdings in Freeport-McMoRan were worth $1,095,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of FCX. Hazlett Burt & Watson Inc. lifted its position in shares of Freeport-McMoRan by 1,170.7% in the second quarter. Hazlett Burt & Watson Inc. now owns 521 shares of the natural resource company’s stock worth $25,000 after purchasing an additional 480 shares in the last quarter. Spectrum Wealth Counsel LLC acquired a new stake in Freeport-McMoRan in the 2nd quarter valued at $25,000. Matrix Trust Co bought a new stake in Freeport-McMoRan during the 3rd quarter worth about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Freeport-McMoRan during the 2nd quarter worth about $27,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Freeport-McMoRan in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FCX shares. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $51.00 to $46.00 in a report on Tuesday. Morgan Stanley lowered their target price on shares of Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, September 19th. Jefferies Financial Group cut their price target on shares of Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Monday. Finally, Raymond James boosted their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.96.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $39.77 on Friday. Freeport-McMoRan Inc. has a one year low of $36.26 and a one year high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. The firm has a market cap of $57.15 billion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 2.90 and a beta of 1.86. The stock’s fifty day moving average price is $42.09 and its two-hundred day moving average price is $44.74.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. Freeport-McMoRan’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. On average, equities analysts forecast that Freeport-McMoRan Inc. will post 1.49 EPS for the current year.

Freeport-McMoRan Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.51%. This is an increase from Freeport-McMoRan’s previous quarterly dividend of $0.08. Freeport-McMoRan’s dividend payout ratio is currently 21.90%.

About Freeport-McMoRan

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.