Public Employees Retirement Association of Colorado Buys 9,315 Shares of Freeport-McMoRan Inc (FCX)

Public Employees Retirement Association of Colorado grew its stake in Freeport-McMoRan Inc (NYSE:FCX) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 259,731 shares of the natural resource company’s stock after acquiring an additional 9,315 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Freeport-McMoRan were worth $3,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Flagship Harbor Advisors LLC increased its position in shares of Freeport-McMoRan by 21.6% during the 4th quarter. Flagship Harbor Advisors LLC now owns 5,120 shares of the natural resource company’s stock worth $52,000 after purchasing an additional 908 shares during the last quarter. Moody National Bank Trust Division increased its position in shares of Freeport-McMoRan by 3.6% during the 4th quarter. Moody National Bank Trust Division now owns 28,192 shares of the natural resource company’s stock worth $291,000 after purchasing an additional 985 shares during the last quarter. Ffcm LLC increased its position in shares of Freeport-McMoRan by 7.3% during the 4th quarter. Ffcm LLC now owns 14,911 shares of the natural resource company’s stock worth $154,000 after purchasing an additional 1,019 shares during the last quarter. Focused Wealth Management Inc increased its position in shares of Freeport-McMoRan by 3.5% during the 4th quarter. Focused Wealth Management Inc now owns 32,597 shares of the natural resource company’s stock worth $336,000 after purchasing an additional 1,107 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its position in shares of Freeport-McMoRan by 10.2% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 12,971 shares of the natural resource company’s stock worth $167,000 after purchasing an additional 1,205 shares during the last quarter. 72.57% of the stock is owned by institutional investors and hedge funds.

Shares of FCX traded down $0.04 during midday trading on Wednesday, hitting $9.99. The company had a trading volume of 13,659,256 shares, compared to its average volume of 19,467,618. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.41 and a current ratio of 2.79. Freeport-McMoRan Inc has a 1 year low of $9.60 and a 1 year high of $18.38. The stock has a market capitalization of $14.62 billion, a PE ratio of 6.57 and a beta of 2.21.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, April 25th. The natural resource company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). Freeport-McMoRan had a return on equity of 10.31% and a net margin of 9.09%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the business posted $0.46 EPS. Freeport-McMoRan’s revenue was down 22.1% on a year-over-year basis. Analysts predict that Freeport-McMoRan Inc will post 0.42 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 13.16%.

FCX has been the subject of a number of recent analyst reports. Citigroup raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $16.00 in a research report on Tuesday, February 19th. ValuEngine upgraded Freeport-McMoRan from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Morgan Stanley cut Freeport-McMoRan from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 13th. UBS Group set a $14.00 target price on Freeport-McMoRan and gave the company a “hold” rating in a report on Friday, April 5th. Finally, Zacks Investment Research upgraded Freeport-McMoRan from a “strong sell” rating to a “hold” rating in a report on Thursday, February 14th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $15.01.

ILLEGAL ACTIVITY NOTICE: “Public Employees Retirement Association of Colorado Buys 9,315 Shares of Freeport-McMoRan Inc (FCX)” was originally reported by Sundance Herald and is owned by of Sundance Herald. If you are accessing this report on another publication, it was copied illegally and republished in violation of United States and international copyright and trademark legislation. The original version of this report can be read at https://sundanceherald.com/2019/05/29/public-employees-retirement-association-of-colorado-purchases-9315-shares-of-freeport-mcmoran-inc-fcx.html.

Freeport-McMoRan Company Profile

Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.

Featured Story: What is the 52-week high/low?

Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply