72,684 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Bought by Headlands Technologies LLC

Headlands Technologies LLC acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 72,684 shares of the natural resource company's stock, valued at approximately $2,768,000.

Several other large investors have also recently added to or reduced their stakes in FCX. Continuum Advisory LLC grew its stake in shares of Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock worth $37,000 after acquiring an additional 236 shares in the last quarter. PFG Investments LLC boosted its holdings in Freeport-McMoRan by 1.3% in the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company's stock valued at $872,000 after purchasing an additional 283 shares during the period. Palogic Value Management L.P. grew its stake in Freeport-McMoRan by 1.5% during the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock worth $772,000 after purchasing an additional 292 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in Freeport-McMoRan by 1.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company's stock worth $727,000 after purchasing an additional 307 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in Freeport-McMoRan by 0.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock valued at $1,451,000 after purchasing an additional 309 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

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Freeport-McMoRan Stock Performance

Shares of FCX stock traded down $4.37 during trading hours on Friday, hitting $29.14. The stock had a trading volume of 44,396,895 shares, compared to its average volume of 13,529,687. 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 has a market capitalization of $41.88 billion, a PE ratio of 22.59, a PEG ratio of 0.87 and a beta of 1.71. The stock's 50 day moving average is $37.75 and its 200 day moving average is $41.73. Freeport-McMoRan Inc. has a twelve month low of $28.49 and a twelve month high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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 issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is currently 23.26%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FCX. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Raymond James increased their price objective on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday. BMO Capital Markets decreased 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 report on Friday, January 24th. StockNews.com upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. upgraded Freeport-McMoRan from a "neutral" rating to an "overweight" rating and raised their price target for the company from $48.00 to $52.00 in a research note on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.61.

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.