Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Easterly Investment Partners LLC

Easterly Investment Partners LLC grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 24.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,353 shares of the natural resource company's stock after buying an additional 36,618 shares during the quarter. Easterly Investment Partners LLC's holdings in Freeport-McMoRan were worth $7,020,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Mountaineer Partners Management LLC boosted its position in shares of Freeport-McMoRan by 4,767.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company's stock worth $595,702,000 after purchasing an additional 11,687,982 shares in the last quarter. Amundi lifted its stake in shares of Freeport-McMoRan by 30.2% in the fourth quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock valued at $857,305,000 after purchasing an additional 5,001,531 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Freeport-McMoRan by 142.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company's stock worth $162,964,000 after buying an additional 2,515,103 shares in the last quarter. Franklin Resources Inc. grew its position 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 buying an additional 2,366,187 shares during the period. Finally, National Bank of Canada FI increased its holdings in Freeport-McMoRan by 136.0% in the third quarter. National Bank of Canada FI now owns 1,635,724 shares of the natural resource company's stock valued at $81,655,000 after buying an additional 942,701 shares in the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

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Freeport-McMoRan Trading Down 1.5 %

Shares of FCX traded down $0.59 on Monday, hitting $37.83. 8,394,095 shares of the stock traded hands, compared to its average volume of 13,394,514. The firm has a market capitalization of $54.37 billion, a P/E ratio of 29.18, a P/E/G 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 1 year low of $33.98 and a 1 year high of $55.24. The stock's 50 day moving average is $38.14 and its two-hundred day moving average is $41.98.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted 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, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

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 issued 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 (DPR) is 23.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BMO Capital Markets decreased their price target on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Jefferies Financial Group raised Freeport-McMoRan from a "hold" rating to a "buy" rating and lifted their price target for the stock from $40.00 to $48.00 in a research note on Thursday, February 27th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, Scotiabank cut their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.04.

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.