Czech National Bank Raises Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Czech National Bank increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 5.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 330,073 shares of the natural resource company's stock after acquiring an additional 18,518 shares during the period. Czech National Bank's holdings in Freeport-McMoRan were worth $12,497,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Asset Planning Inc bought a new position in shares of Freeport-McMoRan during the 4th quarter worth $25,000. Mizuho Bank Ltd. purchased a new position in shares of Freeport-McMoRan in the 4th quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $27,000. Roxbury Financial LLC acquired a new stake in Freeport-McMoRan during the 4th quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth about $29,000. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Trading Up 0.3%

Shares of FCX traded up $0.13 during midday trading on Tuesday, hitting $40.28. 11,738,649 shares of the stock were exchanged, compared to its average volume of 13,450,723. The stock has a fifty day simple moving average of $36.25 and a 200 day simple moving average of $38.36. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $53.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm has a market cap of $57.89 billion, a P/E ratio of 31.23, a P/E/G ratio of 0.87 and a beta of 1.65.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The company had revenue of $5.73 billion during the quarter, compared to analysts' expectations of $5.36 billion. During the same quarter last year, the company posted $0.32 EPS. The firm's revenue was down 9.4% compared to the same quarter last year. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is presently 24.79%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FCX. Hsbc Global Res upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Scotiabank lifted their target price on shares of Freeport-McMoRan from $40.00 to $43.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 14th. UBS Group lowered their price target on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Wall Street Zen cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Finally, Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.36.

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.