Voya Investment Management LLC Has $107.42 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Voya Investment Management LLC raised its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 27.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,821,011 shares of the natural resource company's stock after purchasing an additional 610,436 shares during the period. Voya Investment Management LLC owned approximately 0.20% of Freeport-McMoRan worth $107,424,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan in the 4th quarter valued at $25,000. Mizuho Bank Ltd. acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth about $26,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC increased its position in shares of Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth $28,000 after purchasing an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth about $28,000. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Price Performance

Shares of FCX traded up $0.05 during midday trading on Tuesday, hitting $37.29. The company's stock had a trading volume of 3,841,308 shares, compared to its average volume of 13,849,653. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $55.24. The company's fifty day simple moving average is $36.24 and its two-hundred day simple moving average is $39.79. 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 stock has a market capitalization of $53.58 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its 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 firm 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 quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.61%. Freeport-McMoRan's dividend payout ratio (DPR) is 24.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FCX shares. BMO Capital Markets lowered their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Wolfe Research raised 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. Sanford C. Bernstein cut Freeport-McMoRan from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, Argus cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.