Senator Investment Group LP Has $1.27 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Senator Investment Group LP cut its position in Freeport-McMoRan Inc. (NYSE:FCX) by 94.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,403 shares of the natural resource company’s stock after selling 616,597 shares during the quarter. Senator Investment Group LP’s holdings in Freeport-McMoRan were worth $1,272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Asset Planning Inc bought a new position in Freeport-McMoRan in the 4th quarter worth approximately $25,000. Mizuho Bank Ltd. bought a new position in Freeport-McMoRan during the fourth quarter worth $26,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan during the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC boosted its holdings in 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 purchasing an additional 600 shares during the period. Finally, Roxbury Financial LLC acquired a new stake in Freeport-McMoRan in the 4th quarter worth $28,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 1.3 %

NYSE FCX opened at $32.90 on Monday. The company has a market capitalization of $47.28 billion, a PE ratio of 25.51, a P/E/G ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $55.24. The stock has a 50-day simple moving average of $36.66 and a 200 day simple moving average of $40.38. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last issued 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%. Research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.82%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Hsbc Global Res upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. Wolfe Research upgraded Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Thursday, March 6th. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Finally, Raymond James lifted their target price on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average target price of $48.39.

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.