Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Optiver Holding B.V.

Optiver Holding B.V. increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 4,239.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,209 shares of the natural resource company’s stock after purchasing an additional 4,112 shares during the quarter. Optiver Holding B.V.’s holdings in Freeport-McMoRan were worth $160,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. grew its position in shares of Freeport-McMoRan by 33.0% in the third quarter. Westside Investment Management Inc. now owns 7,867 shares of the natural resource company’s stock valued at $373,000 after purchasing an additional 1,950 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its position in shares of Freeport-McMoRan by 5.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 10,306 shares of the natural resource company’s stock worth $514,000 after buying an additional 490 shares during the period. World Investment Advisors LLC purchased a new position in shares of Freeport-McMoRan during the third quarter worth $246,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Freeport-McMoRan during the third quarter worth $754,000. Finally, Tidal Investments LLC raised its stake in shares of Freeport-McMoRan by 6.2% in the third quarter. Tidal Investments LLC now owns 155,081 shares of the natural resource company’s stock valued at $7,742,000 after acquiring an additional 8,995 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FCX. Scotiabank reduced their price objective on Freeport-McMoRan from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Monday, April 7th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. Hsbc Global Res raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. BMO Capital Markets cut their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, Raymond James restated an “outperform” rating and set a $52.00 price target on shares of Freeport-McMoRan in a research note on Friday. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.09.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $37.25 on Tuesday. The firm has a market capitalization of $53.53 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. The company has a 50 day moving average price of $36.24 and a 200 day moving average price of $39.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.61%. Freeport-McMoRan’s dividend payout ratio (DPR) is 24.79%.

About Freeport-McMoRan

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.