Vanguard Capital Wealth Advisors Makes New $206,000 Investment in Freeport-McMoRan Inc. (NYSE:FCX)

Vanguard Capital Wealth Advisors acquired a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,831 shares of the natural resource company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Busey Trust CO increased its position in shares of Freeport-McMoRan by 1.4% during the 3rd quarter. Busey Trust CO now owns 25,132 shares of the natural resource company’s stock valued at $937,000 after purchasing an additional 344 shares during the last quarter. Accurate Wealth Management LLC boosted its stake in Freeport-McMoRan by 76.5% during the third quarter. Accurate Wealth Management LLC now owns 10,879 shares of the natural resource company’s stock valued at $397,000 after buying an additional 4,714 shares during the period. First Pacific Financial bought a new stake in Freeport-McMoRan during the third quarter worth about $75,000. Kingswood Wealth Advisors LLC bought a new stake in Freeport-McMoRan during the third quarter worth about $827,000. Finally, Pinnacle Associates Ltd. increased its holdings in shares of Freeport-McMoRan by 0.6% in the third quarter. Pinnacle Associates Ltd. now owns 218,244 shares of the natural resource company’s stock worth $8,138,000 after buying an additional 1,312 shares during the period. Institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. HSBC lifted their price objective on Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. StockNews.com upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their price target on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Bank of America upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Tuesday, April 9th. Finally, Raymond James boosted their price target on Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.07.

Freeport-McMoRan Stock Down 4.7 %

FCX stock traded down $2.47 during midday trading on Tuesday, hitting $49.94. The company’s stock had a trading volume of 17,218,176 shares, compared to its average volume of 14,161,316. The company has a market cap of $71.63 billion, a PE ratio of 44.20, a P/E/G ratio of 8.18 and a beta of 2.04. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $52.52. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average is $44.97 and its 200-day moving average is $40.51.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. On average, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.67 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 26.55%.

Freeport-McMoRan 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.