35,000 Shares in Freeport-McMoRan Inc. $FCX Acquired by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC acquired a new position in Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 35,000 shares of the natural resource company’s stock, valued at approximately $1,778,000.

Other institutional investors have also recently bought and sold shares of the company. KBC Group NV raised its position in Freeport-McMoRan by 49.0% in the 4th quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock worth $11,267,000 after purchasing an additional 73,002 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Freeport-McMoRan during the 4th quarter valued at $8,857,000. Wellington Management Group LLP raised its position in shares of Freeport-McMoRan by 190.9% during the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after acquiring an additional 23,950,557 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Freeport-McMoRan by 426.3% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 81,892 shares of the natural resource company’s stock valued at $3,212,000 after acquiring an additional 66,331 shares during the last quarter. Finally, Powszechne Towarzystwo Emerytalne Allianz Polska S.A. raised its position in shares of Freeport-McMoRan by 175.4% during the 4th quarter. Powszechne Towarzystwo Emerytalne Allianz Polska S.A. now owns 1,379,760 shares of the natural resource company’s stock valued at $70,078,000 after acquiring an additional 878,760 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

FCX opened at $68.95 on Thursday. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.28. The company has a fifty day simple moving average of $64.74 and a 200 day simple moving average of $59.77. The stock has a market cap of $99.12 billion, a P/E ratio of 36.67, a P/E/G ratio of 0.86 and a beta of 1.35.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating 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 business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. On average, research analysts expect that Freeport-McMoRan Inc. will post 2.51 EPS for the current year.

Freeport-McMoRan Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on FCX shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freeport-McMoRan in a research report on Friday, May 15th. Freedom Capital upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Sanford C. Bernstein upped their target price on shares of Freeport-McMoRan from $53.50 to $58.50 and gave the company a “market perform” rating in a research report on Wednesday, June 10th. Scotiabank upped their target price on shares of Freeport-McMoRan from $67.00 to $77.00 and gave the company a “sector outperform” rating in a research report on Monday. Finally, Wall Street Zen upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.31.

Freeport-McMoRan Company 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.