72,684 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Purchased by Headlands Technologies LLC

Headlands Technologies LLC bought a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 72,684 shares of the natural resource company’s stock, valued at approximately $2,768,000.

A number of other institutional investors also recently bought and sold shares of FCX. Asset Planning Inc acquired a new stake in shares of Freeport-McMoRan in the fourth quarter worth $25,000. Vision Financial Markets LLC acquired a new stake in Freeport-McMoRan during the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC raised its stake 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 valued at $28,000 after buying an additional 600 shares during the last quarter. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter valued at about $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Freeport-McMoRan in the fourth quarter worth about $29,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on FCX shares. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Thursday, March 6th. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and raised their price target for the company from $48.00 to $52.00 in a research report on Thursday, March 20th. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Scotiabank lowered their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Stock Down 1.5 %

NYSE FCX opened at $37.85 on Tuesday. The business has a fifty day moving average price of $38.09 and a 200 day moving average price of $41.95. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The company has a market cap of $54.39 billion, a P/E ratio of 29.34, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a one year low of $33.98 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its 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%. Research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a $0.15 dividend. 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 1.59%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.26%.

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.