PKO Investment Management Joint Stock Co Buys Shares of 50,100 Freeport-McMoRan Inc. (NYSE:FCX)

PKO Investment Management Joint Stock Co bought a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,100 shares of the natural resource company's stock, valued at approximately $1,908,000.

Other hedge funds have also recently made changes to their positions in the company. Asset Planning Inc purchased a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $25,000. Mizuho Bank Ltd. purchased a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $26,000. Vision Financial Markets LLC purchased a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $27,000. Roxbury Financial LLC purchased a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Freeport-McMoRan in the 4th quarter worth about $29,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Down 1.5%

Shares of NYSE:FCX traded down $0.57 during trading on Friday, reaching $38.46. 17,234,797 shares of the company were exchanged, compared to its average volume of 13,450,098. The firm has a market capitalization of $55.27 billion, a PE ratio of 29.81, a P/E/G ratio of 0.87 and a beta of 1.65. The business's fifty day simple moving average is $36.27 and its 200-day simple moving average is $38.38. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $53.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

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 net margin of 7.42% and a return on equity of 7.50%. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period last year, the firm earned $0.32 earnings per share. The company's quarterly revenue was down 9.4% on a year-over-year basis. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were paid a dividend of $0.15 per share. 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 presently 24.79%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Raymond James reissued an "outperform" rating and issued a $52.00 price objective on shares of Freeport-McMoRan in a research report on Friday, April 25th. Dbs Bank raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. reduced their price objective on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Hsbc Global Res raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently 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.