Prairie Sky Financial Group LLC Has $381,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Prairie Sky Financial Group LLC lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,000 shares of the natural resource company’s stock after selling 420 shares during the quarter. Prairie Sky Financial Group LLC’s holdings in Freeport-McMoRan were worth $381,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FCX. Clear Harbor Asset Management LLC acquired a new position in Freeport-McMoRan in the 4th quarter worth about $332,000. ARS Investment Partners LLC increased its stake in shares of Freeport-McMoRan by 0.6% during the 4th quarter. ARS Investment Partners LLC now owns 847,770 shares of the natural resource company’s stock worth $32,283,000 after purchasing an additional 4,695 shares during the last quarter. Pure Financial Advisors LLC raised its holdings in shares of Freeport-McMoRan by 16.2% during the 4th quarter. Pure Financial Advisors LLC now owns 6,485 shares of the natural resource company’s stock valued at $247,000 after purchasing an additional 905 shares in the last quarter. FLC Capital Advisors lifted its stake in shares of Freeport-McMoRan by 13.3% in the 4th quarter. FLC Capital Advisors now owns 9,364 shares of the natural resource company’s stock valued at $357,000 after purchasing an additional 1,100 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Freeport-McMoRan by 14.2% in the 4th quarter. UMB Bank n.a. now owns 6,970 shares of the natural resource company’s stock valued at $265,000 after purchasing an additional 865 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

FCX has been the topic of a number of recent analyst reports. Scotiabank dropped their price target on shares of Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, January 6th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Raymond James boosted their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered their price target on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.42.

Freeport-McMoRan Stock Up 0.6 %

Shares of FCX opened at $40.27 on Tuesday. The business’s fifty day moving average price is $41.15 and its two-hundred day moving average price is $44.20. The firm has a market capitalization of $57.86 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 2.21 and a beta of 1.87. Freeport-McMoRan Inc. has a 52 week low of $36.26 and a 52 week high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same quarter last year, the firm earned $0.39 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, analysts predict that Freeport-McMoRan Inc. will post 1.47 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, January 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.49%. Freeport-McMoRan’s payout ratio is currently 21.90%.

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.