American Century Companies Inc. Raises Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

American Century Companies Inc. boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 20.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 504,987 shares of the natural resource company's stock after acquiring an additional 84,207 shares during the period. American Century Companies Inc.'s holdings in Freeport-McMoRan were worth $19,230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Asset Planning Inc purchased a new position in Freeport-McMoRan in the 4th quarter valued at about $25,000. Vision Financial Markets LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC raised its holdings in shares of Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock valued at $28,000 after acquiring an additional 600 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of Freeport-McMoRan in the fourth quarter valued at approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter worth approximately $29,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on FCX. StockNews.com raised Freeport-McMoRan from a "hold" rating to a "buy" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft raised 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. Argus lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $48.00 to $52.00 in a report on Thursday, March 20th. Finally, Sanford C. Bernstein cut Freeport-McMoRan from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus target price of $52.04.

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Freeport-McMoRan Trading Up 0.6 %

Shares of NYSE FCX traded up $0.23 during mid-day trading on Tuesday, reaching $38.09. 13,108,136 shares of the company's stock were exchanged, compared to its average volume of 13,427,925. The company's 50-day moving average is $38.09 and its 200-day moving average is $41.95. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm has a market capitalization of $54.74 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 52-week low of $33.98 and a 52-week high of $55.24.

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

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's payout ratio is 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.