General Pension Society PZU Joint Stock Co Has $111.17 Million Stock Holdings in Freeport-McMoRan Inc. $FCX

General Pension Society PZU Joint Stock Co raised its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 11.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,188,791 shares of the natural resource company’s stock after purchasing an additional 231,636 shares during the period. Freeport-McMoRan accounts for approximately 22.5% of General Pension Society PZU Joint Stock Co’s holdings, making the stock its biggest holding. General Pension Society PZU Joint Stock Co owned 0.15% of Freeport-McMoRan worth $111,169,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FCX. Vanguard Group Inc. boosted its holdings in shares of Freeport-McMoRan by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 130,332,957 shares of the natural resource company’s stock valued at $6,619,611,000 after buying an additional 1,572,769 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Freeport-McMoRan by 1.4% in the 3rd quarter. Fisher Asset Management LLC now owns 63,258,414 shares of the natural resource company’s stock valued at $2,480,995,000 after buying an additional 899,699 shares during the period. State Street Corp boosted its holdings in shares of Freeport-McMoRan by 1.1% in the 3rd quarter. State Street Corp now owns 62,477,910 shares of the natural resource company’s stock valued at $2,450,384,000 after buying an additional 690,736 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Freeport-McMoRan by 190.9% in the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after buying an additional 23,950,557 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Freeport-McMoRan by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 21,671,223 shares of the natural resource company’s stock valued at $849,945,000 after buying an additional 435,963 shares during the period. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 0.6%

Freeport-McMoRan stock opened at $61.92 on Friday. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $61.41 and a two-hundred day moving average price of $56.35. The firm has a market capitalization of $89.01 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 0.75 and a beta of 1.32. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $70.96.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. Freeport-McMoRan’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 EPS. Sell-side analysts expect that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s payout ratio is presently 15.96%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $66.00 price target (down from $70.00) on shares of Freeport-McMoRan in a report on Friday, April 24th. Argus raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Friday, February 13th. Freedom Capital raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Saturday, February 21st. Bank of America lifted their price target on shares of Freeport-McMoRan from $68.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, The Goldman Sachs Group decreased their price target on shares of Freeport-McMoRan from $70.00 to $68.00 and set a “buy” rating for the company in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.72.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.