denkapparat Operations GmbH Buys New Stake in Freeport-McMoRan Inc. (NYSE:FCX)

denkapparat Operations GmbH acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,458 shares of the natural resource company’s stock, valued at approximately $360,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Freeport-McMoRan by 240.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the natural resource company’s stock worth $3,994,000 after acquiring an additional 56,475 shares during the last quarter. Great Valley Advisor Group Inc. acquired a new position in shares of Freeport-McMoRan in the third quarter valued at approximately $282,000. Larson Financial Group LLC grew its position in Freeport-McMoRan by 14.6% in the 3rd quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock valued at $112,000 after buying an additional 287 shares during the last quarter. Independent Advisor Alliance increased its stake in Freeport-McMoRan by 5.5% in the 3rd quarter. Independent Advisor Alliance now owns 14,418 shares of the natural resource company’s stock valued at $720,000 after buying an additional 746 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in Freeport-McMoRan by 17.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,340 shares of the natural resource company’s stock worth $316,000 after buying an additional 927 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $39.99 on Friday. The firm has a market capitalization of $57.47 billion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. 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 Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. The business has a 50 day simple moving average of $38.18 and a 200 day simple moving average of $41.98.

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

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.50%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.26%.

Wall Street Analyst Weigh In

FCX has been the subject of a number of recent analyst reports. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. BMO Capital Markets cut 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. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $48.00 to $52.00 in a research note on Thursday, March 20th. Finally, StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.04.

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.