Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 492,377 shares of the natural resource company’s stock after purchasing an additional 15,814 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Freeport-McMoRan were worth $18,750,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FCX. Asset Planning Inc purchased a new position in shares of Freeport-McMoRan during the 4th quarter valued at approximately $25,000. Vision Financial Markets LLC acquired a new stake in Freeport-McMoRan during the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC increased its holdings in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan in the fourth quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Freeport-McMoRan during the 4th quarter worth about $29,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Down 3.6 %

Shares of Freeport-McMoRan stock opened at $39.99 on Friday. Freeport-McMoRan Inc. has a 1-year low of $33.98 and a 1-year high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The stock has a market cap of $57.47 billion, a P/E ratio of 31.00, a P/E/G ratio of 0.87 and a beta of 1.87. The stock’s 50 day simple moving average is $38.18 and its 200-day simple moving average is $41.98.

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

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s payout ratio is currently 23.26%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Thursday, March 6th. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their price target for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. 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 investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.04.

Freeport-McMoRan Company 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.