Oarsman Capital Inc. Grows Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Oarsman Capital Inc. lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 48,984 shares of the natural resource company’s stock after acquiring an additional 1,367 shares during the quarter. Oarsman Capital Inc.’s holdings in Freeport-McMoRan were worth $1,865,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Asset Planning Inc acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at $25,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC increased its stake in Freeport-McMoRan by 487.8% during the fourth 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 fourth quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Freeport-McMoRan in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FCX shares. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their target price for the stock from $40.00 to $48.00 in a research note on Thursday, February 27th. BMO Capital Markets reduced their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Thursday, March 6th. Scotiabank decreased their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Finally, Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.61.

Freeport-McMoRan Stock Down 13.0 %

Shares of NYSE FCX opened at $29.14 on Friday. The stock has a market cap of $41.88 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 52-week low of $28.49 and a 52-week high of $55.24. The business has a 50-day moving average price of $37.75 and a 200 day moving average price of $41.74. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last announced its 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 return on equity of 7.50% and a net margin of 7.42%. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 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.