Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,695,017 shares of the natural resource company’s stock after acquiring an additional 77,586 shares during the quarter. Russell Investments Group Ltd. owned about 0.19% of Freeport-McMoRan worth $102,627,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $25,000. Mizuho Bank Ltd. acquired a new position in Freeport-McMoRan during the fourth quarter worth $26,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan in the 4th quarter worth $27,000. Laurel Wealth Advisors LLC raised its holdings 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 acquiring an additional 600 shares during the period. Finally, Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FCX. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Monday, March 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. BMO Capital Markets lowered their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Scotiabank cut their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Finally, Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price target for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average target price of $51.61.

Freeport-McMoRan Stock Down 13.0 %

Shares of FCX opened at $29.14 on Friday. 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 stock has a market capitalization of $41.88 billion, a PE ratio of 22.59, a P/E/G ratio of 0.87 and a beta of 1.71. The company’s 50-day simple moving average is $37.75 and its 200-day simple moving average is $41.73. Freeport-McMoRan Inc. has a 1 year low of $28.49 and a 1 year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly 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%. Analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio is currently 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.