Teza Capital Management LLC Has $1.50 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Teza Capital Management LLC grew its position in Freeport-McMoRan Inc. (NYSE:FCX) by 172.8% during the 4th quarter, HoldingsChannel reports. The firm owned 39,294 shares of the natural resource company’s stock after purchasing an additional 24,891 shares during the quarter. Teza Capital Management LLC’s holdings in Freeport-McMoRan were worth $1,496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FCX. Asset Planning Inc acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $25,000. Mizuho Bank Ltd. acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $26,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $27,000. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $29,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group dropped 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. Scotiabank raised their price objective on shares of Freeport-McMoRan from $40.00 to $43.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $50.00 price target (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Finally, BMO Capital Markets lowered their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.36.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $38.01 on Monday. The firm has a 50-day moving average of $36.51 and a 200-day moving average of $38.86. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $55.24. The company has a market cap of $54.63 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter last year, the firm posted $0.32 EPS. The company’s quarterly revenue was down 9.4% on a year-over-year basis. As a group, equities analysts forecast 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. Stockholders of record on Tuesday, April 15th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 24.79%.

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.