Freeport-McMoRan Inc. (NYSE:FCX) is Oaktree Fund Advisors LLC’s 4th Largest Position

Oaktree Fund Advisors LLC lessened its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 32.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 113,317 shares of the natural resource company’s stock after selling 55,033 shares during the quarter. Freeport-McMoRan makes up about 7.2% of Oaktree Fund Advisors LLC’s holdings, making the stock its 4th largest position. Oaktree Fund Advisors LLC’s holdings in Freeport-McMoRan were worth $4,315,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Sanctuary Advisors LLC boosted its stake in shares of Freeport-McMoRan by 9.7% during the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock valued at $8,219,000 after acquiring an additional 14,501 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freeport-McMoRan during the 3rd quarter worth about $754,000. Madison Investment Advisors LLC purchased a new stake in shares of Freeport-McMoRan during the fourth quarter worth about $3,388,000. Principal Financial Group Inc. raised its position in shares of Freeport-McMoRan by 4.1% in the third quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock valued at $84,085,000 after buying an additional 66,699 shares during the last quarter. Finally, Czech National Bank lifted its stake in shares of Freeport-McMoRan by 6.4% during the fourth quarter. Czech National Bank now owns 311,555 shares of the natural resource company’s stock valued at $11,864,000 after buying an additional 18,852 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on FCX. Scotiabank decreased their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. BMO Capital Markets dropped their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $48.00 to $52.00 in a research report on Thursday, March 20th. Finally, StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $38.36 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The firm’s fifty day moving average price is $38.14 and its 200 day moving average price is $41.97. The company has a market capitalization of $55.13 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month 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 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%. On average, research analysts forecast 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. Investors of record on Tuesday, April 15th will be paid 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 1.56%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.26%.

Freeport-McMoRan 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.