NorthCrest Asset Manangement LLC Buys 12,816 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

NorthCrest Asset Manangement LLC lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 444,942 shares of the natural resource company's stock after purchasing an additional 12,816 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Freeport-McMoRan were worth $16,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FCX. Vanguard Group Inc. boosted its stake in Freeport-McMoRan by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company's stock valued at $4,692,191,000 after purchasing an additional 642,776 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Freeport-McMoRan by 21.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock valued at $1,214,203,000 after purchasing an additional 5,735,171 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Freeport-McMoRan by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company's stock valued at $1,122,922,000 after buying an additional 688,240 shares during the last quarter. Franklin Resources Inc. increased its holdings in Freeport-McMoRan by 8.0% in the 4th quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company's stock worth $1,123,445,000 after buying an additional 2,191,926 shares in the last quarter. Finally, Capital World Investors increased its holdings in Freeport-McMoRan by 3.2% in the 4th quarter. Capital World Investors now owns 24,055,524 shares of the natural resource company's stock worth $916,037,000 after buying an additional 750,500 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Performance

NYSE FCX traded down $0.57 on Friday, reaching $38.46. 17,234,797 shares of the stock were exchanged, compared to its average volume of 13,450,098. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $53.15. The firm has a market capitalization of $55.27 billion, a PE ratio of 29.81, a PEG ratio of 0.87 and a beta of 1.65. The company's 50-day simple moving average is $36.27 and its two-hundred day simple moving average is $38.38.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The company's revenue was down 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. Analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FCX shares. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group reissued a "buy" rating and issued a $50.00 target price (up previously from $48.00) on shares of Freeport-McMoRan in a report 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 on the stock in a research report on Thursday, March 6th. Scotiabank upped their price target 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. Finally, Hsbc Global Res raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Five 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.36.

Freeport-McMoRan Company 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.