457,730 Shares in Freeport-McMoRan Inc. $FCX Acquired by Life Cycle Investment Partners Ltd

Life Cycle Investment Partners Ltd acquired a new position in Freeport-McMoRan Inc. (NYSE:FCX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 457,730 shares of the natural resource company’s stock, valued at approximately $23,248,000.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Freeport-McMoRan by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 130,332,957 shares of the natural resource company’s stock worth $6,619,611,000 after buying an additional 1,572,769 shares in the last quarter. Fisher Asset Management LLC raised its stake in Freeport-McMoRan by 1.4% in the third quarter. Fisher Asset Management LLC now owns 63,258,414 shares of the natural resource company’s stock worth $2,480,995,000 after buying an additional 899,699 shares in the last quarter. State Street Corp raised its stake in Freeport-McMoRan by 1.1% in the third quarter. State Street Corp now owns 62,477,910 shares of the natural resource company’s stock worth $2,450,384,000 after buying an additional 690,736 shares in the last quarter. Wellington Management Group LLP raised its stake in Freeport-McMoRan by 190.9% in the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after buying an additional 23,950,557 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Freeport-McMoRan by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 21,671,223 shares of the natural resource company’s stock worth $849,945,000 after buying an additional 435,963 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

NYSE FCX opened at $61.92 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. The stock’s fifty day moving average price is $61.41 and its 200 day moving average price is $56.35. Freeport-McMoRan Inc. has a 1 year low of $35.15 and a 1 year high of $70.96. The company has a market cap of $89.01 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 0.75 and a beta of 1.32.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the prior year, the firm earned $0.24 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio is presently 15.96%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. CICC Research reduced their price target on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $66.00 price target (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday, April 24th. Barclays assumed coverage on Freeport-McMoRan in a research report on Thursday. They set an “overweight” rating and a $77.00 price target on the stock. Weiss Ratings raised Freeport-McMoRan from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Finally, Raymond James Financial reduced their price target on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned 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 $65.72.

About Freeport-McMoRan

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.