Mariner LLC Has $12.58 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Mariner LLC increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 330,434 shares of the natural resource company's stock after buying an additional 10,042 shares during the quarter. Mariner LLC's holdings in Freeport-McMoRan were worth $12,583,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FCX. PFG Investments LLC lifted its position in Freeport-McMoRan by 1.3% during the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company's stock valued at $872,000 after buying an additional 283 shares in the last quarter. Palogic Value Management L.P. lifted its holdings in shares of 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 acquiring an additional 292 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in Freeport-McMoRan by 1.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company's stock valued at $727,000 after purchasing an additional 307 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in Freeport-McMoRan by 0.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock valued at $1,451,000 after purchasing an additional 309 shares during the period. Finally, Inspire Advisors LLC boosted its position in shares of Freeport-McMoRan by 2.6% in the fourth quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company's stock worth $494,000 after buying an additional 325 shares during the period. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Trading Up 0.1 %

FCX traded up $0.03 during trading on Monday, reaching $32.93. The company had a trading volume of 11,414,737 shares, compared to its average volume of 13,877,371. The firm's 50-day simple moving average is $36.66 and its 200 day simple moving average is $40.38. The company has a market cap of $47.32 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 0.87 and a beta of 1.71. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $55.24.

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

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is currently 23.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Argus cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a report on Thursday, March 6th. Raymond James boosted their price target on Freeport-McMoRan from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Finally, BMO Capital Markets cut their target price on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Freeport-McMoRan has an average rating of "Moderate Buy" and a consensus price target of $48.39.

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.