Grantham Mayo Van Otterloo & Co. LLC Buys 264,600 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Grantham Mayo Van Otterloo & Co. LLC raised its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 21.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,485,383 shares of the natural resource company’s stock after purchasing an additional 264,600 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned 0.10% of Freeport-McMoRan worth $56,563,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Asset Planning Inc acquired a new position in Freeport-McMoRan during the 4th quarter worth approximately $25,000. Mizuho Bank Ltd. bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter worth approximately $27,000. Laurel Wealth Advisors LLC lifted its holdings in shares of Freeport-McMoRan by 487.8% in 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 in the last quarter. Finally, Roxbury Financial LLC bought a new position in shares of Freeport-McMoRan in the 4th quarter worth $28,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 13.0 %

Shares of Freeport-McMoRan stock opened at $29.14 on Friday. The firm 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 Inc. has a 1 year low of $28.49 and a 1 year 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 stock has a fifty day moving average price of $37.75 and a 200-day moving average price of $41.74.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data 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 return on equity of 7.50% and a net margin of 7.42%. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed 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 is Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 2.06%. Freeport-McMoRan’s payout ratio is 23.26%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FCX. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Thursday, March 6th. Raymond James increased their price objective on Freeport-McMoRan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Five 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.61.

Freeport-McMoRan Company 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.