Freeport-McMoRan Inc. (NYSE:FCX) Stock Position Boosted by Annex Advisory Services LLC

Annex Advisory Services LLC grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 15.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 720,736 shares of the natural resource company’s stock after buying an additional 97,705 shares during the quarter. Annex Advisory Services LLC’s holdings in Freeport-McMoRan were worth $27,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Mountaineer Partners Management LLC grew its holdings in Freeport-McMoRan by 4,767.8% during the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after acquiring an additional 11,687,982 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Freeport-McMoRan by 142.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company’s stock valued at $162,964,000 after purchasing an additional 2,515,103 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Freeport-McMoRan by 9.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after purchasing an additional 2,366,187 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Freeport-McMoRan by 423.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 2,788,111 shares of the natural resource company’s stock worth $139,183,000 after purchasing an additional 2,255,529 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Freeport-McMoRan by 2.4% during the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock valued at $2,965,717,000 after purchasing an additional 1,392,494 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Raymond James lifted their price target 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 decreased their target price on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $52.42.

Freeport-McMoRan Trading Up 0.6 %

Shares of NYSE:FCX opened at $40.27 on Monday. Freeport-McMoRan Inc. has a 12-month low of $36.26 and a 12-month high of $55.24. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $57.86 billion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 2.13 and a beta of 1.87. The firm has a fifty day moving average of $41.25 and a two-hundred day moving average of $44.27.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the previous year, the company posted $0.39 earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, equities analysts expect that Freeport-McMoRan Inc. will post 1.46 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company 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 $0.15 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. Freeport-McMoRan’s dividend payout ratio is currently 21.90%.

About Freeport-McMoRan

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.