Renaissance Technologies LLC grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,753,571 shares of the natural resource company's stock after buying an additional 109,422 shares during the quarter. Renaissance Technologies LLC owned 0.12% of Freeport-McMoRan worth $66,776,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in FCX. Continuum Advisory LLC boosted its holdings in Freeport-McMoRan by 46.8% in 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 boosted its stake 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 period. Palogic Value Management L.P. grew its holdings in Freeport-McMoRan by 1.5% during the 4th 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 in the last quarter. SeaCrest Wealth Management LLC increased its stake in Freeport-McMoRan by 1.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company's stock worth $727,000 after buying an additional 307 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its holdings in Freeport-McMoRan by 0.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock worth $1,451,000 after buying an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.
Freeport-McMoRan Stock Performance
Shares of Freeport-McMoRan stock traded up $2.01 on Friday, reaching $33.36. 26,222,183 shares of the company were exchanged, compared to its average volume of 13,900,505. The firm has a market cap of $47.94 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $55.24. 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 company's 50-day moving average is $37.10 and its two-hundred day moving average is $41.06.
Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) 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%. As a group, research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal 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 annualized dividend and a yield of 1.80%. Freeport-McMoRan's payout ratio is 23.26%.
Analyst Ratings Changes
Several analysts have recently weighed in on FCX shares. Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and raised their target price for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. StockNews.com lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday. Raymond James upped their target price on Freeport-McMoRan from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a research report on Thursday, March 6th. Finally, Sanford C. Bernstein cut shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and cut their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.88.
Read Our Latest Report on FCX
Freeport-McMoRan Profile
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Free Report)
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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