DJE Kapital AG Buys 47,761 Shares of Freeport-McMoRan Inc. $FCX

DJE Kapital AG raised its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 48.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,577 shares of the natural resource company’s stock after acquiring an additional 47,761 shares during the quarter. DJE Kapital AG’s holdings in Freeport-McMoRan were worth $7,446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FCX. Wellington Management Group LLP lifted its holdings in shares of Freeport-McMoRan by 190.9% in the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after acquiring an additional 23,950,557 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Freeport-McMoRan by 31.2% in the fourth quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock worth $1,897,202,000 after acquiring an additional 8,891,743 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Freeport-McMoRan in the fourth quarter worth about $185,379,000. AQR Capital Management LLC raised its holdings in Freeport-McMoRan by 205.0% in the 2nd quarter. AQR Capital Management LLC now owns 4,186,621 shares of the natural resource company’s stock valued at $181,490,000 after buying an additional 2,813,845 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Freeport-McMoRan in the 4th quarter valued at approximately $110,210,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 6.8%

Freeport-McMoRan stock opened at $66.32 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $72.09. The firm has a 50 day moving average price of $64.10 and a two-hundred day moving average price of $58.98. The firm has a market cap of $95.34 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 0.75 and a beta of 1.35.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same quarter last year, the business earned $0.24 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. Equities analysts predict that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.075 per share. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 15.96%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday. Raymond James Financial dropped their price objective on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, April 24th. HSBC raised their price objective on shares of Freeport-McMoRan from $69.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Argus upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Friday, February 13th. Finally, Sanford C. Bernstein raised their price objective on shares of Freeport-McMoRan from $53.50 to $58.50 and gave the company a “market perform” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.72.

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.