New Age Alpha Advisors LLC Invests $2.25 Million in Freeport-McMoRan Inc. (NYSE:FCX)

New Age Alpha Advisors LLC bought a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, HoldingsChannel reports. The fund bought 58,987 shares of the natural resource company’s stock, valued at approximately $2,246,000.

A number of other hedge funds have also added to or reduced their stakes in FCX. Asset Planning Inc acquired a new stake in Freeport-McMoRan in the fourth quarter valued at $25,000. Vision Financial Markets LLC purchased a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC grew its position in shares of Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares during the period. Roxbury Financial LLC bought a new position in Freeport-McMoRan during the fourth quarter worth about $28,000. Finally, Continuum Advisory LLC lifted its holdings in Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after purchasing an additional 236 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Trading Down 4.0 %

NYSE:FCX opened at $38.36 on Friday. The stock has a market cap of $55.13 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 0.87 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24. The business has a fifty day moving average of $38.14 and a 200-day moving average of $41.97.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.56%. Freeport-McMoRan’s dividend payout ratio is 23.26%.

Analysts Set New Price Targets

FCX has been the topic of a number of recent research reports. Scotiabank reduced their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. BMO Capital Markets lowered their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. JPMorgan Chase & Co. upgraded Freeport-McMoRan from a “neutral” rating to an “overweight” rating and raised their price target for the company from $48.00 to $52.00 in a report on Thursday, March 20th. Finally, Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and an average price target of $52.04.

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.