Deprince Race & Zollo Inc. Boosts Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Deprince Race & Zollo Inc. boosted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 443,538 shares of the natural resource company’s stock after acquiring an additional 35,693 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Freeport-McMoRan were worth $16,890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Eagle Global Advisors LLC boosted its holdings in shares of Freeport-McMoRan by 56.1% during the fourth quarter. Eagle Global Advisors LLC now owns 19,050 shares of the natural resource company’s stock valued at $725,000 after acquiring an additional 6,850 shares during the period. Colonial Trust Co SC raised its holdings in shares of Freeport-McMoRan by 254.6% during the fourth quarter. Colonial Trust Co SC now owns 2,429 shares of the natural resource company’s stock worth $92,000 after acquiring an additional 1,744 shares in the last quarter. Concentric Capital Strategies LP bought a new stake in Freeport-McMoRan in the fourth quarter worth approximately $1,871,000. Cetera Investment Advisers raised its stake in shares of Freeport-McMoRan by 6.2% in the 4th quarter. Cetera Investment Advisers now owns 308,100 shares of the natural resource company’s stock valued at $11,732,000 after acquiring an additional 18,029 shares in the last quarter. Finally, Centiva Capital LP grew its position in shares of Freeport-McMoRan by 39.9% in the fourth quarter. Centiva Capital LP now owns 74,071 shares of the natural resource company’s stock valued at $2,821,000 after purchasing an additional 21,143 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FCX shares. Raymond James reiterated an “outperform” rating and set a $52.00 price target on shares of Freeport-McMoRan in a research note on Friday, April 25th. BMO Capital Markets lowered their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Thursday, March 6th. UBS Group decreased their price target on shares of Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Scotiabank decreased their price objective on Freeport-McMoRan from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, April 7th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.09.

Freeport-McMoRan Stock Up 1.2 %

FCX stock opened at $37.47 on Friday. The company has a market capitalization of $53.85 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 0.87 and a beta of 1.65. The stock has a fifty day moving average of $36.24 and a 200-day moving average of $39.30. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 24.79%.

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.