denkapparat Operations GmbH Makes New $360,000 Investment in Freeport-McMoRan Inc. (NYSE:FCX)

denkapparat Operations GmbH bought a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,458 shares of the natural resource company’s stock, valued at approximately $360,000.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Freeport-McMoRan by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company’s stock worth $4,692,191,000 after purchasing an additional 642,776 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Freeport-McMoRan by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock valued at $1,436,455,000 after acquiring an additional 529,099 shares in the last quarter. Franklin Resources Inc. boosted its stake in Freeport-McMoRan by 9.5% during the third quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after acquiring an additional 2,366,187 shares in the last quarter. Amundi increased its position in Freeport-McMoRan by 30.2% in the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company’s stock valued at $857,305,000 after buying an additional 5,001,531 shares in the last quarter. Finally, Mountaineer Partners Management LLC raised its position in shares of Freeport-McMoRan by 4,767.8% during the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after purchasing an additional 11,687,982 shares during the period. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Price Performance

FCX stock opened at $39.99 on Friday. The company has a 50-day moving average price of $38.18 and a 200 day moving average price of $41.98. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The stock has a market cap of $57.47 billion, a PE ratio of 31.00, a P/E/G ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s payout ratio is 23.26%.

Wall Street Analyst Weigh In

A number of brokerages have commented on FCX. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. 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 report on Friday, January 24th. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus target price of $52.04.

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.