Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 29.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 325,000 shares of the natural resource company’s stock after acquiring an additional 74,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Freeport-McMoRan were worth $12,376,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its position in Freeport-McMoRan by 9.7% in the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock valued at $8,219,000 after buying an additional 14,501 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freeport-McMoRan in the third quarter worth $754,000. Madison Investment Advisors LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter worth $3,388,000. Principal Financial Group Inc. raised its stake in shares of Freeport-McMoRan by 4.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock valued at $84,085,000 after buying an additional 66,699 shares during the last quarter. Finally, Czech National Bank boosted its stake in shares of Freeport-McMoRan by 6.4% in the fourth quarter. Czech National Bank now owns 311,555 shares of the natural resource company’s stock worth $11,864,000 after buying an additional 18,852 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $29.14 on Friday. The stock has a fifty day simple moving average of $37.75 and a 200-day simple moving average of $41.74. Freeport-McMoRan Inc. has a twelve month low of $28.49 and a twelve month high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The stock has a market cap of $41.88 billion, a PE ratio of 22.59, a P/E/G ratio of 0.87 and a beta of 1.71.

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

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 23.26%.

Analysts Set New Price Targets

FCX has been the subject of a number of analyst reports. BMO Capital Markets decreased their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and raised their price target for the company from $48.00 to $52.00 in a research report on Thursday, March 20th. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $48.00 in a report on Thursday, February 27th. Finally, Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.61.

Freeport-McMoRan Profile

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.