Westwood Holdings Group Inc. Lowers Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Westwood Holdings Group Inc. decreased its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,895 shares of the natural resource company's stock after selling 7,449 shares during the period. Westwood Holdings Group Inc.'s holdings in Freeport-McMoRan were worth $3,080,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FCX. Wellington Management Group LLP increased its holdings in shares of Freeport-McMoRan by 237.4% in the 4th quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company's stock worth $351,041,000 after buying an additional 6,486,011 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Freeport-McMoRan by 21.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock worth $1,214,203,000 after buying an additional 5,735,171 shares during the last quarter. Amundi increased its holdings in shares of Freeport-McMoRan by 30.2% in the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock worth $857,305,000 after buying an additional 5,001,531 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Freeport-McMoRan by 38.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company's stock worth $619,682,000 after buying an additional 4,488,210 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Freeport-McMoRan by 8.0% during the 4th quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company's stock valued at $1,123,445,000 after purchasing an additional 2,191,926 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Analysts Set New Price Targets

FCX has been the topic of several recent research reports. Wolfe Research raised shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price on the stock in a report on Wednesday, April 16th. Raymond James reaffirmed an "outperform" rating and set a $52.00 target price on shares of Freeport-McMoRan in a report on Friday, April 25th. Scotiabank increased their target price on shares of Freeport-McMoRan from $40.00 to $43.00 and gave the company a "sector perform" rating in a report on Wednesday, May 14th. Hsbc Global Res raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Five 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, Freeport-McMoRan currently has an average rating of "Moderate Buy" and an average price target of $48.36.

Freeport-McMoRan Trading Up 3.6%

Shares of NYSE:FCX traded up $1.34 on Friday, hitting $39.04. The company had a trading volume of 15,293,626 shares, compared to its average volume of 13,486,604. The firm's 50-day simple moving average is $36.49 and its two-hundred day simple moving average is $38.69. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $53.89. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $56.10 billion, a price-to-earnings ratio of 30.26, a P/E/G ratio of 0.87 and a beta of 1.65.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, topping 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 firm had revenue of $5.73 billion during the quarter, compared to analysts' expectations of $5.36 billion. During the same period last year, the company posted $0.32 EPS. The company's quarterly revenue was down 9.4% compared to the same quarter last year. Equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.54%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 24.79%.

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.