Voya Investment Management LLC Boosts Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Voya Investment Management LLC boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 27.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,821,011 shares of the natural resource company's stock after acquiring an additional 610,436 shares during the period. Voya Investment Management LLC owned about 0.20% of Freeport-McMoRan worth $107,424,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Westside Investment Management Inc. raised its stake in Freeport-McMoRan by 33.0% in the third quarter. Westside Investment Management Inc. now owns 7,867 shares of the natural resource company's stock valued at $373,000 after buying an additional 1,950 shares in the last quarter. Pine Valley Investments Ltd Liability Co raised its position in shares of Freeport-McMoRan by 5.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 10,306 shares of the natural resource company's stock worth $514,000 after acquiring an additional 490 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Freeport-McMoRan during the third quarter worth approximately $246,000. Wilmington Savings Fund Society FSB acquired a new position in Freeport-McMoRan in the third quarter valued at approximately $754,000. Finally, Tidal Investments LLC increased its stake in Freeport-McMoRan by 6.2% in the third quarter. Tidal Investments LLC now owns 155,081 shares of the natural resource company's stock valued at $7,742,000 after purchasing an additional 8,995 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX traded down $0.31 during midday trading on Friday, hitting $37.32. The stock had a trading volume of 10,953,380 shares, compared to its average volume of 13,890,683. The company has a market capitalization of $53.63 billion, a PE ratio of 28.93, 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 stock has a 50 day moving average price of $36.27 and a two-hundred day moving average price of $39.95. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period in the prior year, the company earned $0.32 EPS. As a group, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

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 dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is presently 24.79%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Argus downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, Raymond James lifted their price target on Freeport-McMoRan from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $48.00.

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.