LPL Financial LLC Has $67.67 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

LPL Financial LLC raised its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 10.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,776,932 shares of the natural resource company’s stock after purchasing an additional 162,933 shares during the quarter. LPL Financial LLC owned approximately 0.12% of Freeport-McMoRan worth $67,666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Freeport-McMoRan by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock worth $1,436,455,000 after purchasing an additional 529,099 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Freeport-McMoRan by 9.5% during the third quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after buying an additional 2,366,187 shares in the last quarter. Amundi lifted its holdings in shares of Freeport-McMoRan by 30.2% during the fourth quarter. Amundi now owns 21,580,960 shares of the natural resource company’s stock worth $857,305,000 after buying an additional 5,001,531 shares in the last quarter. Mountaineer Partners Management LLC grew its stake in shares of Freeport-McMoRan by 4,767.8% in the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock valued at $595,702,000 after acquiring an additional 11,687,982 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Freeport-McMoRan by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,487,881 shares of the natural resource company’s stock worth $323,219,000 after acquiring an additional 264,843 shares during the period. 80.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

FCX has been the topic of a number of analyst reports. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. BMO Capital Markets reduced their price target 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. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their target price for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Stock Down 3.6 %

Shares of NYSE:FCX opened at $41.48 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a 52-week low of $33.98 and a 52-week high of $55.24. The company has a market capitalization of $59.61 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The company has a fifty day moving average of $38.18 and a 200-day moving average of $41.99.

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

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.45%. Freeport-McMoRan’s payout ratio is 23.26%.

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.