72,684 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Purchased by Headlands Technologies LLC

Headlands Technologies LLC bought a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, Holdings Channel reports. The firm bought 72,684 shares of the natural resource company’s stock, valued at approximately $2,768,000.

Several other hedge funds have also made changes to their positions in FCX. Asset Planning Inc acquired a new position in Freeport-McMoRan in the fourth quarter valued at approximately $25,000. Vision Financial Markets LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC grew its holdings in shares of Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares during the period. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth about $28,000. Finally, Continuum Advisory LLC raised its holdings in Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after buying an additional 236 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 1.5 %

NYSE FCX opened at $37.85 on Tuesday. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24. The firm has a 50 day moving average of $38.09 and a two-hundred day moving average of $41.95. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $54.39 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. As a group, research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.26%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FCX. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Thursday, March 6th. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised Freeport-McMoRan from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $48.00 to $52.00 in a research report on Thursday, March 20th. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Scotiabank decreased their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.04.

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.