Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 20.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,960 shares of the natural resource company's stock after purchasing an additional 10,167 shares during the period. OMERS ADMINISTRATION Corp's holdings in Freeport-McMoRan were worth $2,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wedmont Private Capital boosted its stake in shares of Freeport-McMoRan by 11.1% during the 4th quarter. Wedmont Private Capital now owns 16,726 shares of the natural resource company's stock worth $652,000 after acquiring an additional 1,665 shares in the last quarter. Moody National Bank Trust Division acquired a new position in Freeport-McMoRan during the fourth quarter worth $355,000. Cooper Financial Group boosted its position in Freeport-McMoRan by 3.5% during the fourth quarter. Cooper Financial Group now owns 13,379 shares of the natural resource company's stock worth $509,000 after purchasing an additional 451 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in Freeport-McMoRan in the fourth quarter valued at $784,000. Finally, FNY Investment Advisers LLC acquired a new stake in Freeport-McMoRan in the fourth quarter valued at $57,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Wall Street Analyst Weigh In

FCX has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a research note on Thursday, March 6th. UBS Group reduced their price target on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price objective on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective for the company in a research report on Wednesday, April 16th. Finally, Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.36.

Freeport-McMoRan Stock Down 1.5%

FCX stock opened at $38.89 on Thursday. The company has a 50 day moving average price of $36.39 and a two-hundred day moving average price of $39.07. 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 has a market capitalization of $55.89 billion, a P/E ratio of 30.15, a PEG ratio of 0.87 and a beta of 1.65. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $55.24.

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 analysts' consensus estimates of $0.23 by $0.01. The business 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 business's revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. As a group, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

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.

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