Regal Partners Ltd Has $76.13 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Regal Partners Ltd reduced its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,999,318 shares of the natural resource company’s stock after selling 61,852 shares during the quarter. Freeport-McMoRan comprises 7.7% of Regal Partners Ltd’s holdings, making the stock its 5th largest holding. Regal Partners Ltd’s holdings in Freeport-McMoRan were worth $76,134,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Freeport-McMoRan by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company’s stock worth $4,692,191,000 after purchasing an additional 642,776 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Freeport-McMoRan by 21.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company’s stock valued at $1,214,203,000 after buying an additional 5,735,171 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Freeport-McMoRan by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company’s stock valued at $1,122,922,000 after buying an additional 688,240 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Freeport-McMoRan by 8.0% during the fourth quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company’s stock valued at $1,123,445,000 after buying an additional 2,191,926 shares during the last quarter. Finally, Capital World Investors boosted its position in shares of Freeport-McMoRan by 3.2% during the fourth quarter. Capital World Investors now owns 24,055,524 shares of the natural resource company’s stock valued at $916,037,000 after buying an additional 750,500 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $37.18 on Wednesday. The company has a 50 day moving average of $36.21 and a 200 day moving average of $39.77. The stock has a market cap of $53.43 billion, a P/E ratio of 28.82, a P/E/G ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 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.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Freeport-McMoRan’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share. As a group, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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 dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.61%. Freeport-McMoRan’s dividend payout ratio is currently 24.79%.

Wall Street Analysts Forecast Growth

FCX has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. BMO Capital Markets cut their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Hsbc Global Res raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 14th. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Finally, Scotiabank cut their price objective on Freeport-McMoRan from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.09.

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.