Iowa State Bank Has $1.91 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Iowa State Bank lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,889 shares of the natural resource company’s stock after acquiring an additional 381 shares during the quarter. Iowa State Bank’s holdings in Freeport-McMoRan were worth $1,911,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Freeport-McMoRan by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 119,369,409 shares of the natural resource company’s stock worth $4,451,285,000 after acquiring an additional 305,912 shares in the last quarter. State Street Corp boosted its stake in shares of Freeport-McMoRan by 1.4% during the 2nd quarter. State Street Corp now owns 63,242,717 shares of the natural resource company’s stock worth $2,529,709,000 after acquiring an additional 887,136 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Freeport-McMoRan by 1.9% during the 1st quarter. Geode Capital Management LLC now owns 25,338,465 shares of the natural resource company’s stock worth $1,033,858,000 after acquiring an additional 472,160 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Freeport-McMoRan by 4.2% during the 3rd quarter. Northern Trust Corp now owns 17,756,034 shares of the natural resource company’s stock worth $662,123,000 after acquiring an additional 709,114 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Freeport-McMoRan by 4.8% during the 4th quarter. Morgan Stanley now owns 16,533,638 shares of the natural resource company’s stock worth $628,278,000 after acquiring an additional 753,458 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FCX. Morgan Stanley decreased their price target on Freeport-McMoRan from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, December 7th. Eight Capital set a $55.00 target price on Freeport-McMoRan and gave the company a “buy” rating in a research note on Wednesday, December 6th. UBS Group decreased their target price on Freeport-McMoRan from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, December 13th. Raymond James increased their target price on Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $55.00 target price on shares of Freeport-McMoRan in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.95.

Read Our Latest Report on Freeport-McMoRan

Freeport-McMoRan Trading Up 2.3 %

NYSE FCX traded up $1.07 on Tuesday, reaching $48.40. The company had a trading volume of 22,034,104 shares, compared to its average volume of 13,096,986. The firm has a market cap of $69.43 billion, a price-to-earnings ratio of 38.11 and a beta of 2.04. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $48.83. The business has a 50 day moving average of $40.82 and a two-hundred day moving average of $38.81. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.42 and a quick ratio of 1.38.

Freeport-McMoRan (NYSE:FCXGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.85 billion. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Analysts forecast that Freeport-McMoRan Inc. will post 1.53 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.62%.

Freeport-McMoRan Profile

(Free Report)

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.

Further Reading

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

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