Senator Investment Group LP Has $1.27 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Senator Investment Group LP lessened its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 94.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,403 shares of the natural resource company’s stock after selling 616,597 shares during the period. Senator Investment Group LP’s holdings in Freeport-McMoRan were worth $1,272,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. PFG Investments LLC boosted its holdings in shares of Freeport-McMoRan by 1.3% during the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock worth $872,000 after buying an additional 283 shares in the last quarter. Palogic Value Management L.P. lifted its position in shares of Freeport-McMoRan by 1.5% during the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock valued at $772,000 after acquiring an additional 292 shares during the period. SeaCrest Wealth Management LLC boosted its stake in Freeport-McMoRan by 1.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock worth $727,000 after acquiring an additional 307 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Freeport-McMoRan by 0.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company’s stock worth $1,451,000 after purchasing an additional 309 shares during the period. Finally, Inspire Advisors LLC increased its stake in Freeport-McMoRan by 2.6% in the fourth quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company’s stock valued at $494,000 after purchasing an additional 325 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

FCX opened at $32.90 on Monday. The firm has a 50-day moving average price of $36.66 and a 200-day moving average price of $40.38. The company has a market capitalization of $47.28 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $55.24. 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 announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Equities analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current 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 1.82%. Freeport-McMoRan’s dividend payout ratio is currently 23.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Raymond James raised their price objective on Freeport-McMoRan from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. BMO Capital Markets reduced their price target 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, UBS Group lowered their price objective 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. Six analysts have rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.39.

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.