Susquehanna Fundamental Investments LLC Purchases Shares of 164,792 Freeport-McMoRan Inc. (NYSE:FCX)

Susquehanna Fundamental Investments LLC purchased a new stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 164,792 shares of the natural resource company's stock, valued at approximately $6,275,000.

Several other institutional investors also recently made changes to their positions in FCX. Wellington Management Group LLP increased its stake in 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 worth $351,041,000 after acquiring an additional 6,486,011 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Freeport-McMoRan by 21.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock worth $1,214,203,000 after purchasing an additional 5,735,171 shares in the last quarter. Amundi raised its holdings in Freeport-McMoRan by 30.2% in the fourth quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock valued at $857,305,000 after buying an additional 5,001,531 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Freeport-McMoRan by 38.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company's stock valued at $619,682,000 after buying an additional 4,488,210 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Freeport-McMoRan by 142.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company's stock worth $162,964,000 after buying an additional 2,515,103 shares during the period. 80.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FCX shares. StockNews.com downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Jefferies Financial Group reissued a "buy" rating and set a $50.00 price target (up from $48.00) on shares of Freeport-McMoRan in a research report on Friday, April 25th. Scotiabank dropped their price objective on shares of Freeport-McMoRan from $45.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Monday, April 7th. Wolfe Research upgraded shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price for the company in a research note on Wednesday, April 16th. Finally, Argus downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.09.

Freeport-McMoRan Stock Performance

Shares of FCX stock traded up $0.41 on Thursday, hitting $36.44. 11,609,778 shares of the stock traded hands, compared to its average volume of 13,821,152. The company has a market capitalization of $52.37 billion, a PE ratio of 28.25, a PEG ratio of 0.87 and a beta of 1.71. The company's fifty day moving average is $36.19 and its 200 day moving average is $39.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $55.24.

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

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Tuesday, April 15th. 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.