Temasek Holdings Private Ltd lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 805,528 shares of the natural resource company's stock after buying an additional 56,100 shares during the quarter. Temasek Holdings Private Ltd owned approximately 0.06% of Freeport-McMoRan worth $30,675,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in FCX. Asset Planning Inc bought a new stake in Freeport-McMoRan in the fourth quarter valued at $25,000. Mizuho Bank Ltd. purchased a new position in Freeport-McMoRan in the 4th quarter worth about $26,000. Vision Financial Markets LLC acquired a new stake in Freeport-McMoRan during the 4th quarter worth about $27,000. Roxbury Financial LLC acquired a new stake in Freeport-McMoRan during the 4th quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Freeport-McMoRan during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 80.77% of the company's stock.
Freeport-McMoRan Stock Performance
Shares of FCX traded down $0.35 on Wednesday, reaching $38.05. 11,011,325 shares of the company's stock traded hands, compared to its average volume of 13,559,989. The stock's 50 day simple moving average is $36.55 and its two-hundred day simple moving average is $38.80. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $53.89. The stock has a market cap of $54.68 billion, a PE ratio of 29.50, a PEG ratio of 0.87 and a beta of 1.65. 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 (NYSE:FCX - Get Free Report) last issued 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 firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The company's revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. On average, analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.
Freeport-McMoRan Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.58%. Freeport-McMoRan's payout ratio is 24.79%.
Analysts Set New Price Targets
FCX has been the subject of several analyst reports. UBS Group reduced their target price on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Raymond James restated an "outperform" rating and set a $52.00 price objective on shares of Freeport-McMoRan in a research report on Friday, April 25th. StockNews.com cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Finally, Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective on the stock in a research report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.36.
Read Our Latest Report on FCX
About Freeport-McMoRan
(
Free Report)
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.
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