Cooper Financial Group Has $509,000 Position in Freeport-McMoRan Inc. (NYSE:FCX)

Cooper Financial Group lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,379 shares of the natural resource company’s stock after purchasing an additional 451 shares during the period. Cooper Financial Group’s holdings in Freeport-McMoRan were worth $509,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fisher Asset Management LLC grew its holdings in Freeport-McMoRan by 2.4% during the 3rd quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock worth $2,965,717,000 after acquiring an additional 1,392,494 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Freeport-McMoRan by 1.9% during the third quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock valued at $1,436,455,000 after purchasing an additional 529,099 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Freeport-McMoRan by 9.5% in the third quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock valued at $1,348,522,000 after purchasing an additional 2,366,187 shares in the last quarter. Mountaineer Partners Management LLC raised its position in Freeport-McMoRan by 4,767.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after purchasing an additional 11,687,982 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Freeport-McMoRan by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 10,343,109 shares of the natural resource company’s stock worth $502,675,000 after buying an additional 56,499 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Scotiabank dropped their price objective on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, January 6th. Raymond James raised their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group cut their price objective on shares of Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and an average price target of $52.96.

Freeport-McMoRan Stock Performance

FCX stock opened at $39.47 on Wednesday. Freeport-McMoRan Inc. has a 1-year low of $36.26 and a 1-year high of $55.24. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The firm has a market cap of $56.72 billion, a PE ratio of 28.81, a P/E/G ratio of 2.90 and a beta of 1.87. The business’s 50-day moving average price is $41.83 and its two-hundred day moving average price is $44.53.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.45 billion. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. Freeport-McMoRan’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 1.49 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be issued 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 dividend yield of 1.52%. Freeport-McMoRan’s payout ratio is 21.90%.

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.