Dynamic Technology Lab Private Ltd Buys 8,597 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Dynamic Technology Lab Private Ltd lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 29.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,090 shares of the natural resource company’s stock after purchasing an additional 8,597 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Freeport-McMoRan were worth $1,450,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Asset Planning Inc purchased a new position in shares of Freeport-McMoRan in the fourth quarter valued at $25,000. Mizuho Bank Ltd. bought a new stake in shares of Freeport-McMoRan in the 4th quarter worth about $26,000. Vision Financial Markets LLC purchased a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC lifted its holdings in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares during the last quarter. Finally, Roxbury Financial LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth approximately $28,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $48.00 to $52.00 in a research report on Thursday, March 20th. Raymond James upped their price target on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 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. Finally, Scotiabank decreased their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.61.

Freeport-McMoRan Stock Down 13.0 %

FCX stock opened at $29.14 on Friday. The company has a market capitalization of $41.88 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 12 month low of $28.49 and a 12 month high of $55.24. The firm’s fifty day simple moving average is $37.75 and its 200-day simple moving average is $41.74. 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 (NYSE:FCX) last posted 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%. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current 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 issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s payout ratio is presently 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.