Freeport-McMoRan Inc. $FCX Shares Acquired by Goehring & Rozencwajg Associates LLC

Goehring & Rozencwajg Associates LLC raised its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 237,584 shares of the natural resource company’s stock after purchasing an additional 12,148 shares during the period. Freeport-McMoRan accounts for approximately 1.2% of Goehring & Rozencwajg Associates LLC’s investment portfolio, making the stock its 29th biggest holding. Goehring & Rozencwajg Associates LLC’s holdings in Freeport-McMoRan were worth $12,067,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FCX. Wellington Management Group LLP increased its position in shares of Freeport-McMoRan by 190.9% during the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after purchasing an additional 23,950,557 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Freeport-McMoRan by 31.2% during the fourth quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock worth $1,897,202,000 after purchasing an additional 8,891,743 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter worth $185,379,000. Boston Partners increased its position in shares of Freeport-McMoRan by 75.1% during the fourth quarter. Boston Partners now owns 7,916,348 shares of the natural resource company’s stock worth $404,695,000 after purchasing an additional 3,395,264 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Freeport-McMoRan by 205.0% during the second quarter. AQR Capital Management LLC now owns 4,186,621 shares of the natural resource company’s stock worth $181,490,000 after purchasing an additional 2,813,845 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FCX shares. CICC Research reduced their price target on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. The Goldman Sachs Group upped their target price on Freeport-McMoRan from $68.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $66.00 target price (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday, April 24th. Sanford C. Bernstein upped their target price on Freeport-McMoRan from $53.50 to $58.50 and gave the company a “market perform” rating in a research report on Wednesday. Finally, Jefferies Financial Group upped their target price on Freeport-McMoRan from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average target price of $66.86.

Freeport-McMoRan Price Performance

NYSE FCX opened at $68.28 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. The stock’s fifty day moving average price is $64.24 and its 200 day moving average price is $59.05. Freeport-McMoRan Inc. has a 1 year low of $35.15 and a 1 year high of $72.09. The company has a market cap of $98.15 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 0.80 and a beta of 1.35.

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

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 15.96%.

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.