BW Gestao de Investimentos Ltda. Has $10.51 Million Stake in Freeport-McMoRan Inc. $FCX

BW Gestao de Investimentos Ltda. grew its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 72.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,938 shares of the natural resource company’s stock after purchasing an additional 86,938 shares during the period. BW Gestao de Investimentos Ltda.’s holdings in Freeport-McMoRan were worth $10,510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Freeport-McMoRan by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 130,332,957 shares of the natural resource company’s stock worth $6,619,611,000 after purchasing an additional 1,572,769 shares during the last quarter. Fisher Asset Management LLC grew its position in Freeport-McMoRan by 1.0% in the 4th quarter. Fisher Asset Management LLC now owns 63,880,757 shares of the natural resource company’s stock worth $3,244,504,000 after purchasing an additional 622,343 shares during the last quarter. State Street Corp grew its position in Freeport-McMoRan by 1.1% in the 3rd quarter. State Street Corp now owns 62,477,910 shares of the natural resource company’s stock worth $2,450,384,000 after purchasing an additional 690,736 shares during the last quarter. Wellington Management Group LLP grew its position in Freeport-McMoRan by 190.9% in the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after purchasing an additional 23,950,557 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Freeport-McMoRan by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 31,669,550 shares of the natural resource company’s stock worth $1,601,087,000 after purchasing an additional 238,997 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup decreased their target price on shares of Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Wall Street Zen lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Stifel Nicolaus lifted their target price on shares of Freeport-McMoRan from $52.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, The Goldman Sachs Group decreased their target price on shares of Freeport-McMoRan from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus target price of $65.72.

Freeport-McMoRan Trading Up 2.0%

Shares of NYSE FCX opened at $67.04 on Tuesday. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $70.96. The company has a market cap of $96.38 billion, a PE ratio of 35.66, a P/E/G ratio of 0.79 and a beta of 1.35. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $62.38 and a two-hundred day moving average of $57.50.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.4%. Freeport-McMoRan’s payout ratio is currently 15.96%.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.