Capital Research Global Investors Has $2.94 Billion Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Capital Research Global Investors lowered its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,313,083 shares of the natural resource company's stock after selling 6,092,686 shares during the period. Capital Research Global Investors owned 5.38% of Freeport-McMoRan worth $2,944,083,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FCX. Vanguard Group Inc. raised its holdings in Freeport-McMoRan by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company's stock valued at $4,692,191,000 after buying an additional 642,776 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Freeport-McMoRan by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company's stock worth $1,122,922,000 after buying an additional 688,240 shares during the period. Franklin Resources Inc. grew its stake in Freeport-McMoRan by 8.0% in the 4th quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company's stock valued at $1,123,445,000 after buying an additional 2,191,926 shares during the last quarter. Capital World Investors raised its holdings in Freeport-McMoRan by 3.2% in the 4th quarter. Capital World Investors now owns 24,055,524 shares of the natural resource company's stock worth $916,037,000 after acquiring an additional 750,500 shares during the period. Finally, Amundi raised its holdings in Freeport-McMoRan by 30.2% in the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock worth $857,305,000 after acquiring an additional 5,001,531 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Down 1.3 %

NYSE FCX opened at $32.90 on Friday. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $55.24. The company has a market capitalization of $47.28 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 0.87 and a beta of 1.71. The stock's 50 day moving average is $36.66 and its two-hundred day moving average is $40.52. 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 - Get Free Report) last announced 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 net margin of 7.42% and a return on equity of 7.50%. Equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given 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 1.82%. Freeport-McMoRan's dividend payout ratio (DPR) is presently 23.26%.

Analyst Ratings Changes

FCX has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Argus cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. BMO Capital Markets lowered their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Finally, Wolfe Research upgraded shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price for the company in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.

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