Natixis Has $12.14 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Natixis lifted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 53.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 318,680 shares of the natural resource company’s stock after purchasing an additional 110,610 shares during the quarter. Natixis’ holdings in Freeport-McMoRan were worth $12,135,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FCX. Norinchukin Bank The boosted its stake in shares of Freeport-McMoRan by 12.2% during the 4th quarter. Norinchukin Bank The now owns 68,624 shares of the natural resource company’s stock worth $2,613,000 after buying an additional 7,453 shares during the last quarter. Ossiam raised its holdings in Freeport-McMoRan by 22,566.4% during the fourth quarter. Ossiam now owns 894,190 shares of the natural resource company’s stock worth $34,051,000 after acquiring an additional 890,245 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in Freeport-McMoRan by 13.2% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,787 shares of the natural resource company’s stock valued at $4,904,000 after purchasing an additional 15,000 shares during the last quarter. Capital World Investors grew its stake in Freeport-McMoRan by 3.2% in 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 purchasing an additional 750,500 shares in the last quarter. Finally, Covalis Capital LLP acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $13,036,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $32.90 on Friday. The stock has a 50 day simple moving average of $36.66 and a 200 day simple moving average of $40.44. The stock has a market cap of $47.28 billion, a P/E ratio of 25.51, a PEG ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year 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 posted its 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%. Research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.82%. Freeport-McMoRan’s payout ratio is presently 23.26%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wolfe Research raised Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a report on Wednesday. Hsbc Global Res upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. UBS Group dropped their target price on shares of Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, BMO Capital Markets reduced their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.39.

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.