General Pension Society PZU Joint Stock Co Boosts Position in Freeport-McMoRan Inc. (NYSE:FCX)

General Pension Society PZU Joint Stock Co boosted its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 938,904 shares of the natural resource company's stock after purchasing an additional 66,800 shares during the quarter. Freeport-McMoRan makes up approximately 11.0% of General Pension Society PZU Joint Stock Co's investment portfolio, making the stock its 2nd largest holding. General Pension Society PZU Joint Stock Co owned about 0.07% of Freeport-McMoRan worth $35,753,000 at the end of the most recent reporting period.

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

Freeport-McMoRan Stock Down 1.5%

NYSE:FCX traded down $0.57 during trading hours on Friday, hitting $38.46. 17,234,797 shares of the company's stock traded hands, compared to its average volume of 13,450,098. The firm has a market cap of $55.27 billion, a P/E ratio of 29.81, a P/E/G ratio of 0.87 and a beta of 1.65. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month 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 stock's fifty day moving average price is $36.27 and its two-hundred day moving average price is $38.38.

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

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.56%. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

Analyst Upgrades and Downgrades

FCX has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective 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. Scotiabank boosted their price objective on Freeport-McMoRan from $40.00 to $43.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 14th. UBS Group reduced their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Finally, Hsbc Global Res raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Freeport-McMoRan has a consensus rating of "Moderate Buy" and an average 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.