Ossiam Buys 890,245 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Ossiam lifted its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 22,566.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 894,190 shares of the natural resource company's stock after acquiring an additional 890,245 shares during the quarter. Ossiam owned approximately 0.06% of Freeport-McMoRan worth $34,051,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FCX. Wilmington Savings Fund Society FSB purchased a new position in shares of Freeport-McMoRan in the 3rd quarter worth approximately $754,000. Madison Investment Advisors LLC bought a new position in Freeport-McMoRan in the 4th quarter valued at $3,388,000. Principal Financial Group Inc. raised its stake in shares of Freeport-McMoRan by 4.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company's stock worth $84,085,000 after purchasing an additional 66,699 shares during the period. Czech National Bank boosted its holdings in shares of Freeport-McMoRan by 6.4% in the 4th quarter. Czech National Bank now owns 311,555 shares of the natural resource company's stock worth $11,864,000 after buying an additional 18,852 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Freeport-McMoRan by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company's stock worth $4,692,191,000 after buying an additional 642,776 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Trading Down 1.3 %

Shares of Freeport-McMoRan stock opened at $32.90 on Friday. The company has a 50 day simple moving average of $36.66 and a two-hundred day simple moving average of $40.52. 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 firm has a market cap of $47.28 billion, a PE ratio of 25.51, a PEG 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.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal 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 paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is presently 23.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Jefferies Financial Group raised Freeport-McMoRan from a "hold" rating to a "buy" rating and upped their price target for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. JPMorgan Chase & Co. lowered their price objective on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Dbs Bank upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Finally, Argus downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Six 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. According to MarketBeat, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.39.

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.

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