MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,286,048 shares of the natural resource company's stock after purchasing an additional 373,922 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.23% of Freeport-McMoRan worth $125,133,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in Freeport-McMoRan by 4.1% during the third quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company's stock valued at $84,085,000 after acquiring an additional 66,699 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Freeport-McMoRan by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 160,920 shares of the natural resource company's stock valued at $6,128,000 after buying an additional 2,503 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Freeport-McMoRan by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 51,697 shares of the natural resource company's stock valued at $1,969,000 after buying an additional 1,266 shares during the period. Czech National Bank boosted its position in Freeport-McMoRan by 6.4% during the 4th quarter. Czech National Bank now owns 311,555 shares of the natural resource company's stock worth $11,864,000 after purchasing an additional 18,852 shares during the period. Finally, Matrix Trust Co boosted its position in Freeport-McMoRan by 785.5% during the 4th quarter. Matrix Trust Co now owns 4,463 shares of the natural resource company's stock worth $170,000 after purchasing an additional 3,959 shares during the period. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $37.76 on Monday. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The business's fifty day moving average price is $36.29 and its two-hundred day moving average price is $39.12. The firm has a market capitalization of $54.26 billion, a PE ratio of 29.27, a P/E/G ratio of 0.87 and a beta of 1.65.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The firm had revenue of $5.73 billion for 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 firm's revenue for the quarter was down 9.4% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share. On average, research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders 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 yield of 1.59%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's payout ratio is 24.79%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FCX. Jefferies Financial Group reiterated a "buy" rating and set a $50.00 target price (up from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. Argus downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Dbs Bank upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. StockNews.com downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Finally, Hsbc Global Res raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research 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 issued a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan currently has an average rating of "Moderate Buy" and a consensus price target of $48.09.

About Freeport-McMoRan

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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