Norinchukin Bank The Has $2.61 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Norinchukin Bank The lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 12.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,624 shares of the natural resource company’s stock after buying an additional 7,453 shares during the period. Norinchukin Bank The’s holdings in Freeport-McMoRan were worth $2,613,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of 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 valued at $4,692,191,000 after purchasing an additional 642,776 shares in the last quarter. Geode Capital Management LLC grew its position in Freeport-McMoRan by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company’s stock valued at $1,122,922,000 after acquiring an additional 688,240 shares during the last quarter. Franklin Resources Inc. raised its stake in Freeport-McMoRan by 8.0% during the fourth quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company’s stock worth $1,123,445,000 after acquiring an additional 2,191,926 shares in the last quarter. Capital World Investors lifted its holdings in shares of Freeport-McMoRan by 3.2% in the fourth quarter. Capital World Investors now owns 24,055,524 shares of the natural resource company’s stock worth $916,037,000 after acquiring an additional 750,500 shares during the last quarter. Finally, Amundi boosted its stake in shares of 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 purchasing an additional 5,001,531 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FCX shares. StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their price objective on Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. BMO Capital Markets cut their target price 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. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Thursday, March 6th. Finally, Raymond James raised their target price on Freeport-McMoRan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.39.

Freeport-McMoRan Stock Down 1.3 %

FCX stock opened at $32.90 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. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $55.24. The stock’s 50 day simple moving average is $36.66 and its 200 day simple moving average is $40.44. The company has a market cap of $47.28 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (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%. On average, research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business 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 $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.82%. Freeport-McMoRan’s dividend payout ratio is presently 23.26%.

About Freeport-McMoRan

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.