Toronto Dominion Bank Raises Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Toronto Dominion Bank increased its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 26.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,927,362 shares of the natural resource company's stock after acquiring an additional 400,246 shares during the period. Toronto Dominion Bank owned about 0.13% of Freeport-McMoRan worth $73,394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Madison Investment Advisors LLC purchased a new stake in Freeport-McMoRan in the 4th quarter worth approximately $3,388,000. Vanguard Group Inc. grew its position 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. Wellington Management Group LLP increased its position in shares of Freeport-McMoRan by 237.4% during the fourth quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company's stock valued at $351,041,000 after acquiring an additional 6,486,011 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Freeport-McMoRan by 5.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 159,536 shares of the natural resource company's stock worth $6,075,000 after purchasing an additional 8,195 shares in the last quarter. Finally, PGGM Investments increased its holdings in Freeport-McMoRan by 220.3% in the 4th quarter. PGGM Investments now owns 40,467 shares of the natural resource company's stock worth $1,541,000 after buying an additional 27,834 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. 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 lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a research note on Thursday, March 6th. Finally, Wolfe Research upgraded shares of 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.36.

Freeport-McMoRan Stock Down 0.9%

NYSE:FCX traded down $0.35 during mid-day trading on Wednesday, reaching $38.05. The company's stock had a trading volume of 11,011,325 shares, compared to its average volume of 13,559,989. 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 $54.68 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The stock has a fifty day moving average of $36.56 and a 200-day moving average of $38.81.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly 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. 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 business's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors 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 annualized dividend and a yield of 1.58%. Freeport-McMoRan's dividend payout ratio (DPR) is 24.79%.

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.