Nomura Asset Management Co. Ltd. Purchases 5,078 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Nomura Asset Management Co. Ltd. increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 618,431 shares of the natural resource company’s stock after buying an additional 5,078 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Freeport-McMoRan were worth $23,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $25,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC lifted its position in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $28,000. Finally, Continuum Advisory LLC increased its holdings in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 4.0 %

FCX stock opened at $38.36 on Friday. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24. The business has a 50-day simple moving average of $38.14 and a 200 day simple moving average of $41.97. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The company has a market cap of $55.13 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last issued its 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%. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 annualized dividend and a dividend yield of 1.56%. Freeport-McMoRan’s payout ratio is 23.26%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FCX. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price target for the company from $40.00 to $48.00 in a report on Thursday, February 27th. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. Finally, Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.04.

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.