Teza Capital Management LLC Has $1.99 Million Stock Position in Freeport-McMoRan Inc. $FCX

Key Points

• Teza Capital Management LLC increased its stake in Freeport-McMoRan by 33.5%, owning a total of 52,455 shares valued at approximately $1.986 million.
• Freeport-McMoRan reported an earnings per share (EPS) of $0.54 for the recent quarter, surpassing estimates by $0.09, and its revenue rose to $7.58 billion, up 14.5% from the previous year.
• The company recently declared a quarterly dividend of $0.15 per share, equating to an annual yield of 1.3%, with a dividend payout ratio of 22.73%.

Teza Capital Management LLC increased its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 33.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,455 shares of the natural resource company's stock after purchasing an additional 13,161 shares during the quarter. Freeport-McMoRan makes up approximately 0.9% of Teza Capital Management LLC's investment portfolio, making the stock its 7th biggest position. Teza Capital Management LLC's holdings in Freeport-McMoRan were worth $1,986,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Pingora Partners LLC raised its holdings in Freeport-McMoRan by 8.6% in the 1st quarter. Pingora Partners LLC now owns 37,860 shares of the natural resource company's stock worth $1,433,000 after purchasing an additional 2,990 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in Freeport-McMoRan by 1.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 175,546 shares of the natural resource company's stock worth $6,646,000 after purchasing an additional 2,202 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Freeport-McMoRan by 15.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,781,867 shares of the natural resource company's stock worth $143,181,000 after purchasing an additional 495,819 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Freeport-McMoRan by 1.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 51,477 shares of the natural resource company's stock worth $1,949,000 after purchasing an additional 503 shares during the period. Finally, Gotham Asset Management LLC increased its stake in Freeport-McMoRan by 107.5% in the 1st quarter. Gotham Asset Management LLC now owns 406,900 shares of the natural resource company's stock worth $15,405,000 after buying an additional 210,800 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FCX. Citigroup increased their price target on Freeport-McMoRan from $44.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Stifel Canada upgraded Freeport-McMoRan to a "strong-buy" rating in a research note on Tuesday, July 8th. BMO Capital Markets cut their price target on Freeport-McMoRan from $55.00 to $54.00 and set an "outperform" rating for the company in a research note on Thursday, July 24th. Royal Bank Of Canada increased their price target on Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Hsbc Global Res lowered Freeport-McMoRan from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.00.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock traded down $1.68 during trading on Friday, reaching $44.24. 8,288,488 shares of the stock traded hands, compared to its average volume of 15,394,589. The company has a market capitalization of $63.52 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 0.85 and a beta of 1.59. The business has a fifty day simple moving average of $43.69 and a two-hundred day simple moving average of $40.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $52.61.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.09. The firm had revenue of $7.58 billion during the quarter, compared to analyst estimates of $6.85 billion. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The business's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $0.60 annualized dividend and a yield of 1.4%. Freeport-McMoRan's dividend payout ratio is 22.73%.

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.