Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 492,377 shares of the natural resource company’s stock after buying an additional 15,814 shares during the period. UniSuper Management Pty Ltd’s holdings in Freeport-McMoRan were worth $18,750,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Asset Planning Inc acquired a new position in Freeport-McMoRan in the fourth quarter valued at about $25,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter valued at about $27,000. Laurel Wealth Advisors LLC raised its stake in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares during the period. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $29,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $39.99 on Friday. The firm has a market capitalization of $57.47 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. 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 $38.18 and its 200 day moving average price is $41.98. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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 is Tuesday, April 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.50%. Freeport-McMoRan’s dividend payout ratio is presently 23.26%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. BMO Capital Markets cut their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Scotiabank reduced their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Finally, Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price objective for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $52.04.

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.