Nomura Asset Management Co. Ltd. Has $23.55 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Nomura Asset Management Co. Ltd. lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 618,431 shares of the natural resource company’s stock after buying an additional 5,078 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Freeport-McMoRan were worth $23,550,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Asset Planning Inc acquired a new position in Freeport-McMoRan in the 4th quarter worth about $25,000. Vision Financial Markets LLC bought a new stake in shares of Freeport-McMoRan during the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC increased its stake in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares during the period. Roxbury Financial LLC bought a new position in Freeport-McMoRan in the 4th quarter valued at approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Freeport-McMoRan during the 4th quarter worth approximately $29,000. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Trading Down 4.0 %

FCX opened at $38.36 on Friday. The company has a market cap of $55.13 billion, a P/E ratio of 29.74, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The company has a fifty day moving average price of $38.14 and a two-hundred day moving average price of $41.97. 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 Inc. has a 1-year low of $33.98 and a 1-year high of $55.24.

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 return on equity of 7.50% and a net margin of 7.42%. Analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio is currently 23.26%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FCX shares. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and upped their price target for the company from $48.00 to $52.00 in a research report on Thursday, March 20th. Sanford C. Bernstein downgraded 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 report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised 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. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Finally, Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their target price for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average target price of $52.04.

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.