denkapparat Operations GmbH Invests $360,000 in Freeport-McMoRan Inc. (NYSE:FCX)

denkapparat Operations GmbH bought a new stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,458 shares of the natural resource company's stock, valued at approximately $360,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mountaineer Partners Management LLC grew its position in Freeport-McMoRan by 4,767.8% during the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company's stock worth $595,702,000 after buying an additional 11,687,982 shares during the period. Amundi grew its holdings in shares of 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. Assenagon Asset Management S.A. increased its stake in Freeport-McMoRan by 142.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company's stock valued at $162,964,000 after purchasing an additional 2,515,103 shares in the last quarter. Franklin Resources Inc. raised its holdings in Freeport-McMoRan by 9.5% during the third quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company's stock worth $1,348,522,000 after purchasing an additional 2,366,187 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in Freeport-McMoRan by 136.0% during the third quarter. National Bank of Canada FI now owns 1,635,724 shares of the natural resource company's stock worth $81,655,000 after purchasing an additional 942,701 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

FCX has been the subject of several research reports. Scotiabank cut their price target on Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a research note on Friday, January 24th. StockNews.com upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a research report on Monday. Jefferies Financial Group raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and raised their price objective for the stock from $40.00 to $48.00 in a research note on Thursday, February 27th. Sanford C. Bernstein lowered Freeport-McMoRan from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Five equities 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 company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $52.04.

Freeport-McMoRan Stock Down 0.1 %

NYSE FCX traded down $0.05 during trading hours on Tuesday, reaching $37.81. 5,523,303 shares of the company traded hands, compared to its average volume of 13,399,383. The stock has a market capitalization of $54.34 billion, a PE ratio of 29.29, a PEG ratio of 0.87 and a beta of 1.87. The company has a 50 day moving average of $38.09 and a two-hundred day moving average of $41.95. 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 Inc. has a 12 month low of $33.98 and a 12 month high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS 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, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business 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 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is presently 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.