O Shaughnessy Asset Management LLC Has $5.80 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

O Shaughnessy Asset Management LLC decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,428 shares of the natural resource company’s stock after selling 1,000 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Freeport-McMoRan were worth $5,804,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Erste Asset Management GmbH acquired a new stake in shares of Freeport-McMoRan during the 3rd quarter valued at $3,233,000. Atom Investors LP purchased a new stake in shares of Freeport-McMoRan during the third quarter worth $439,000. Benjamin Edwards Inc. acquired a new stake in Freeport-McMoRan during the third quarter valued at $2,761,000. Hilltop Holdings Inc. purchased a new position in Freeport-McMoRan in the third quarter valued at about $641,000. Finally, Janus Henderson Group PLC increased its position in Freeport-McMoRan by 9.3% in the 3rd quarter. Janus Henderson Group PLC now owns 5,172,219 shares of the natural resource company’s stock worth $258,193,000 after purchasing an additional 440,580 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on FCX. BMO Capital Markets lowered their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Monday. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. upgraded Freeport-McMoRan from a “neutral” rating to an “overweight” rating and raised their target price for the company from $48.00 to $52.00 in a report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $38.09 on Wednesday. The firm has a fifty day moving average price of $38.05 and a two-hundred day moving average price of $41.92. Freeport-McMoRan Inc. has a fifty-two week low of $33.98 and a fifty-two week high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The company has a market cap of $54.74 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

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

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.58%. Freeport-McMoRan’s payout ratio is 23.26%.

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.