Mariner LLC Has $12.58 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Mariner LLC increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 330,434 shares of the natural resource company’s stock after acquiring an additional 10,042 shares during the period. Mariner LLC’s holdings in Freeport-McMoRan were worth $12,583,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in shares of Freeport-McMoRan by 237.4% in the fourth quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company’s stock valued at $351,041,000 after purchasing an additional 6,486,011 shares in the last quarter. Amundi raised its position in Freeport-McMoRan by 30.2% in the 4th 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 last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Freeport-McMoRan by 38.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company’s stock valued at $619,682,000 after acquiring an additional 4,488,210 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Freeport-McMoRan by 142.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company’s stock worth $162,964,000 after acquiring an additional 2,515,103 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Freeport-McMoRan by 9.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after acquiring an additional 2,366,187 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $32.90 on Friday. The company has a market cap of $47.28 billion, a P/E ratio of 25.51, a P/E/G ratio of 0.87 and a beta of 1.71. The firm’s fifty day moving average price is $36.75 and its two-hundred day moving average price is $40.64. Freeport-McMoRan Inc. has a one year low of $27.66 and a one 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.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.82%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FCX. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. UBS Group decreased their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday. Raymond James upped their target price on Freeport-McMoRan from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Finally, BMO Capital Markets decreased their price target 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. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.39.

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.