Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 27.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 166,741 shares of the natural resource company's stock after purchasing an additional 36,237 shares during the period. Quantinno Capital Management LP's holdings in Freeport-McMoRan were worth $6,350,000 as of its most recent SEC filing.

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

Freeport-McMoRan Trading Down 1.1%

Freeport-McMoRan stock traded down $0.43 during midday trading on Tuesday, reaching $38.37. The stock had a trading volume of 7,847,963 shares, compared to its average volume of 13,588,529. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $54.95. The firm has a market cap of $55.14 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The company has a fifty day moving average of $36.55 and a 200 day moving average of $38.81.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Freeport-McMoRan's revenue was down 9.4% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. On average, analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed 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 was Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.56%. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Jefferies Financial Group reiterated a "buy" rating and issued a $50.00 price target (up previously from $48.00) on shares of Freeport-McMoRan in a research report on Friday, April 25th. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. StockNews.com downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. BMO Capital Markets decreased their target price on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Finally, Scotiabank upped their target price on Freeport-McMoRan from $40.00 to $43.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 14th. Five 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 stock. According to MarketBeat.com, Freeport-McMoRan currently has an average rating of "Moderate Buy" and an average price target of $48.36.

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.