Temasek Holdings Private Ltd Acquires 230,010 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Temasek Holdings Private Ltd grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 44.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 749,428 shares of the natural resource company's stock after purchasing an additional 230,010 shares during the quarter. Temasek Holdings Private Ltd owned 0.05% of Freeport-McMoRan worth $37,411,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mountaineer Partners Management LLC boosted its holdings in Freeport-McMoRan by 4,767.8% during the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company's stock worth $595,702,000 after buying an additional 11,687,982 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Freeport-McMoRan by 423.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 2,788,111 shares of the natural resource company's stock worth $139,183,000 after acquiring an additional 2,255,529 shares in the last quarter. Capital Wealth Planning LLC grew its holdings in shares of Freeport-McMoRan by 34.9% in the 2nd quarter. Capital Wealth Planning LLC now owns 5,943,074 shares of the natural resource company's stock worth $288,833,000 after acquiring an additional 1,538,560 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Freeport-McMoRan by 2.4% during the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company's stock worth $2,965,717,000 after purchasing an additional 1,392,494 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Freeport-McMoRan by 5,249.5% during the third quarter. International Assets Investment Management LLC now owns 1,341,335 shares of the natural resource company's stock valued at $66,959,000 after purchasing an additional 1,316,261 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Down 1.3 %

FCX traded down $0.57 during midday trading on Friday, hitting $42.22. 4,340,098 shares of the company's stock traded hands, compared to its average volume of 12,805,444. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. The company has a market cap of $60.67 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 17.29 and a beta of 1.86. The stock's fifty day simple moving average is $46.46 and its 200-day simple moving average is $46.62. Freeport-McMoRan Inc. has a one year low of $36.04 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.01. The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.45 billion. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. Freeport-McMoRan's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.5 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $0.30 annualized dividend and a yield of 0.71%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 21.90%.

Analysts Set New Price Targets

FCX has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on Freeport-McMoRan from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, September 19th. JPMorgan Chase & Co. boosted their price target on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, October 15th. Scotiabank decreased their price objective on shares of Freeport-McMoRan from $53.00 to $52.00 and set a "sector perform" rating for the company in a research note on Wednesday, October 23rd. UBS Group raised shares of Freeport-McMoRan from a "neutral" rating to a "buy" rating and boosted their target price for the company from $54.00 to $55.00 in a research note on Wednesday, September 4th. Finally, StockNews.com cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Thursday, September 26th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus target price of $54.00.

Freeport-McMoRan Company 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.