Franklin Resources Inc. Boosts Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Franklin Resources Inc. raised its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,502,220 shares of the natural resource company's stock after buying an additional 2,191,926 shares during the period. Franklin Resources Inc. owned about 2.05% of Freeport-McMoRan worth $1,123,445,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Asset Planning Inc acquired a new stake in Freeport-McMoRan in the fourth quarter valued at $25,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan during the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC increased its position in Freeport-McMoRan by 487.8% in the 4th 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 period. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter valued at $28,000. Finally, Continuum Advisory LLC raised its position in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock worth $37,000 after buying an additional 236 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Down 12.4 %

FCX traded down $4.75 during trading on Thursday, hitting $33.46. 31,585,357 shares of the company's stock were exchanged, compared to its average volume of 13,477,890. The stock has a market cap of $48.08 billion, a P/E ratio of 25.93, a PEG ratio of 0.87 and a beta of 1.87. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a fifty-two week low of $33.44 and a fifty-two week high of $55.24. The business's 50 day moving average is $38.03 and its two-hundred day moving average is $41.89.

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Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly 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 net margin of 7.42% and a return on equity of 7.50%. As a group, equities analysts expect 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. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is presently 23.26%.

Wall Street Analyst Weigh In

Several research firms have issued reports on FCX. Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. StockNews.com upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating in a report on Monday. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $48.00 to $52.00 in a research note on Thursday, March 20th. Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and boosted their target price for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. Finally, Argus lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.04.

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.