Freeport-McMoRan Inc. (NYSE:FCX) Holdings Lifted by Commerce Bank

Commerce Bank raised its position in Freeport-McMoRan Inc. (NYSE:FCX) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 414,942 shares of the natural resource company’s stock after purchasing an additional 2,449 shares during the quarter. Commerce Bank’s holdings in Freeport-McMoRan were worth $15,801,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in FCX. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freeport-McMoRan in the 3rd quarter worth approximately $754,000. Madison Investment Advisors LLC acquired a new stake in Freeport-McMoRan in the fourth quarter worth approximately $3,388,000. Principal Financial Group Inc. boosted its stake in Freeport-McMoRan by 4.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock valued at $84,085,000 after purchasing an additional 66,699 shares in the last quarter. Czech National Bank increased its position in shares of Freeport-McMoRan by 6.4% during the 4th quarter. Czech National Bank now owns 311,555 shares of the natural resource company’s stock valued at $11,864,000 after purchasing an additional 18,852 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Freeport-McMoRan by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company’s stock worth $4,692,191,000 after buying an additional 642,776 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FCX. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. JPMorgan Chase & Co. dropped their target price on shares of Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. UBS Group cut their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.39.

Freeport-McMoRan Stock Down 1.3 %

FCX stock opened at $32.90 on Friday. The company has a 50 day moving average of $36.66 and a two-hundred day moving average of $40.52. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $55.24. The company has a market cap of $47.28 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 0.87 and a beta of 1.71.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (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, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) 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.