Schroder Investment Management Group Has $31.49 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Schroder Investment Management Group lifted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 22.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 825,151 shares of the natural resource company’s stock after purchasing an additional 149,223 shares during the quarter. Schroder Investment Management Group owned about 0.06% of Freeport-McMoRan worth $31,488,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of FCX. Mountaineer Partners Management LLC boosted its holdings in shares of Freeport-McMoRan by 4,767.8% in the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock valued at $595,702,000 after buying an additional 11,687,982 shares during the period. Amundi lifted its position in Freeport-McMoRan by 30.2% in the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company’s stock valued at $857,305,000 after acquiring an additional 5,001,531 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Freeport-McMoRan by 38.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company’s stock worth $619,682,000 after purchasing an additional 4,488,210 shares during the period. Assenagon Asset Management S.A. increased its holdings in Freeport-McMoRan by 142.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company’s stock worth $162,964,000 after purchasing an additional 2,515,103 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Freeport-McMoRan by 9.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock valued at $1,348,522,000 after purchasing an additional 2,366,187 shares during the period. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $38.09 on Wednesday. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. The firm has a market capitalization of $54.74 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 0.87 and a beta of 1.87. The stock’s 50 day moving average price is $38.05 and its two-hundred day moving average price is $41.92. 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 posted its quarterly 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 net margin of 7.42% and a return on equity of 7.50%. On average, analysts anticipate 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 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 yield of 1.58%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.26%.

Analyst Ratings Changes

A number of research firms recently issued reports on FCX. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Scotiabank cut their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. BMO Capital Markets decreased their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $48.00 to $52.00 in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.04.

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.