Vise Technologies Inc. Buys 7,706 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Vise Technologies Inc. increased its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 52.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,454 shares of the natural resource company's stock after purchasing an additional 7,706 shares during the quarter. Vise Technologies Inc.'s holdings in Freeport-McMoRan were worth $855,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FCX. Asset Planning Inc bought a new position in shares of Freeport-McMoRan during the 4th quarter valued at about $25,000. Mizuho Bank Ltd. acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $26,000. Vision Financial Markets LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $27,000. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at $29,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX traded down $1.19 during midday trading on Friday, reaching $37.84. 5,038,836 shares of the company traded hands, compared to its average volume of 13,421,380. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $53.29. The firm has a market capitalization of $54.37 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The firm's fifty day moving average price is $36.36 and its two-hundred day moving average price is $38.48.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period in the previous year, the company posted $0.32 EPS. The firm's revenue for the quarter was down 9.4% compared to the same quarter last year. On average, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's payout ratio is currently 24.79%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FCX shares. Wall Street Zen downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Raymond James reaffirmed an "outperform" rating and set a $52.00 target price on shares of Freeport-McMoRan in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 target price for the company in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock 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.