Clarius Group LLC Raises Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Clarius Group LLC raised its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 12.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,823 shares of the natural resource company’s stock after purchasing an additional 999 shares during the quarter. Clarius Group LLC’s holdings in Freeport-McMoRan were worth $336,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FCX. Fisher Asset Management LLC lifted its holdings in shares of Freeport-McMoRan by 2.4% during the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock worth $2,965,717,000 after purchasing an additional 1,392,494 shares during the period. Geode Capital Management LLC raised its position 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 buying an additional 529,099 shares during the last quarter. Franklin Resources Inc. lifted its stake in 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 valued at $1,348,522,000 after acquiring an additional 2,366,187 shares during the period. Mountaineer Partners Management LLC boosted its holdings in shares of Freeport-McMoRan by 4,767.8% in the 3rd 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 during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Freeport-McMoRan by 0.5% in the second quarter. Legal & General Group Plc now owns 10,343,109 shares of the natural resource company’s stock worth $502,675,000 after acquiring an additional 56,499 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group decreased their target price on shares of Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Scotiabank dropped their target price on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. decreased their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Raymond James raised their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.42.

Freeport-McMoRan Stock Up 0.6 %

FCX stock opened at $40.27 on Monday. Freeport-McMoRan Inc. has a 52 week low of $36.26 and a 52 week high of $55.24. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. The firm has a 50-day simple moving average of $41.25 and a 200-day simple moving average of $44.27. The stock has a market capitalization of $57.86 billion, a P/E ratio of 29.39, a P/E/G ratio of 2.13 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. The company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.45 billion. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. Freeport-McMoRan’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS. Equities analysts forecast that Freeport-McMoRan Inc. will post 1.46 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, January 15th. This represents a $0.60 annualized dividend and a yield of 1.49%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 21.90%.

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.