Deutsche Bank AG Acquires 1,539,124 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Deutsche Bank AG lifted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 39.2% in the fourth quarter, Holdings Channel reports. The fund owned 5,469,258 shares of the natural resource company’s stock after purchasing an additional 1,539,124 shares during the quarter. Deutsche Bank AG’s holdings in Freeport-McMoRan were worth $208,269,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $25,000. Mizuho Bank Ltd. purchased a new stake in Freeport-McMoRan during the 4th quarter valued at $26,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan in the fourth quarter worth $27,000. Laurel Wealth Advisors LLC boosted its stake in Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after buying an additional 600 shares during the period. Finally, Roxbury Financial LLC bought a new position in Freeport-McMoRan during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. UBS Group decreased their price objective on shares of Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Thursday, March 6th. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. reduced their target price on Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.09.

Freeport-McMoRan Price Performance

Shares of FCX opened at $37.76 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The company has a 50 day moving average price of $36.29 and a 200-day moving average price of $39.23. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $55.24. The stock has a market capitalization of $54.26 billion, a PE ratio of 29.27, a PEG ratio of 0.87 and a beta of 1.65.

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

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued a $0.15 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.59%. Freeport-McMoRan’s dividend payout ratio is presently 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.