Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 29.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 38,090 shares of the natural resource company’s stock after purchasing an additional 8,597 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Freeport-McMoRan were worth $1,450,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hilltop Holdings Inc. purchased a new position in Freeport-McMoRan during the third quarter worth about $641,000. Royal London Asset Management Ltd. lifted its stake in shares of Freeport-McMoRan by 3.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 584,251 shares of the natural resource company’s stock valued at $29,166,000 after purchasing an additional 18,041 shares during the last quarter. Quarry LP grew its holdings in shares of Freeport-McMoRan by 1,302.4% during the 3rd quarter. Quarry LP now owns 2,342 shares of the natural resource company’s stock worth $117,000 after purchasing an additional 2,175 shares during the period. Quantinno Capital Management LP increased its position in shares of Freeport-McMoRan by 14.1% during the 3rd quarter. Quantinno Capital Management LP now owns 130,504 shares of the natural resource company’s stock worth $6,515,000 after purchasing an additional 16,166 shares during the last quarter. Finally, Systematic Financial Management LP raised its holdings in Freeport-McMoRan by 14.7% in the 3rd quarter. Systematic Financial Management LP now owns 13,130 shares of the natural resource company’s stock valued at $655,000 after buying an additional 1,680 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $29.14 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $37.75 and a 200-day simple moving average of $41.74. The stock has a market cap of $41.88 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 12-month low of $28.49 and a 12-month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly 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 analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared 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 yield of 2.06%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 23.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FCX shares. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Monday, March 31st. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price target for the stock from $40.00 to $48.00 in a research note on Thursday, February 27th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus 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.