Oaktree Fund Advisors LLC Has $4.32 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Oaktree Fund Advisors LLC lessened its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 32.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,317 shares of the natural resource company's stock after selling 55,033 shares during the period. Freeport-McMoRan comprises approximately 7.2% of Oaktree Fund Advisors LLC's investment portfolio, making the stock its 4th largest holding. Oaktree Fund Advisors LLC's holdings in Freeport-McMoRan were worth $4,315,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FCX. Continuum Advisory LLC boosted its stake 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 acquiring an additional 236 shares during the period. PFG Investments LLC increased its holdings in shares of 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 last quarter. Palogic Value Management L.P. raised its position in shares of Freeport-McMoRan by 1.5% in the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock valued at $772,000 after purchasing an additional 292 shares during the period. SeaCrest Wealth Management LLC lifted its position in Freeport-McMoRan by 1.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company's stock worth $727,000 after acquiring an additional 307 shares during the last quarter. Finally, Inspire Advisors LLC increased its stake in shares of Freeport-McMoRan by 2.6% during the fourth quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company's stock worth $494,000 after purchasing an additional 325 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

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Freeport-McMoRan Price Performance

Shares of FCX stock traded up $0.23 on Tuesday, hitting $38.09. 13,112,928 shares of the company's stock were exchanged, compared to its average volume of 13,427,955. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24. 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 company has a 50 day moving average of $38.09 and a 200 day moving average of $41.95. The stock has a market cap of $54.74 billion, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results 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%. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS 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 paid 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 dividend yield of 1.58%. Freeport-McMoRan's payout ratio is presently 23.26%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FCX. Jefferies Financial Group raised Freeport-McMoRan from a "hold" rating to a "buy" rating and upped their price objective for the company from $40.00 to $48.00 in a report on Thursday, February 27th. StockNews.com raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a research report on Monday. BMO Capital Markets dropped 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 note on Friday, January 24th. Scotiabank lowered their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. Finally, Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Five research 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. According to MarketBeat, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus target price of $52.04.

About Freeport-McMoRan

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.