70,466 Shares in Freeport-McMoRan Inc. $FCX Bought by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, Holdings Channel.com reports. The fund acquired 70,466 shares of the natural resource company’s stock, valued at approximately $3,579,000.

A number of other hedge funds have also bought and sold shares of the company. KBC Group NV grew its holdings in Freeport-McMoRan by 49.0% during the 4th quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock valued at $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 position in Freeport-McMoRan during the 4th quarter valued at about $8,857,000. Wellington Management Group LLP grew its holdings in 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 purchasing an additional 23,950,557 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in 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 purchasing an additional 66,331 shares during the last quarter. Finally, Powszechne Towarzystwo Emerytalne Allianz Polska S.A. grew its holdings in 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 purchasing an additional 878,760 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $68.28 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. The company has a market capitalization of $98.15 billion, a PE ratio of 36.32, a P/E/G ratio of 0.80 and a beta of 1.35. The company has a 50 day moving average price of $64.24 and a 200-day moving average price of $59.05. Freeport-McMoRan Inc. has a fifty-two week low of $35.15 and a fifty-two week high of $72.09.

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

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were issued 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 payout ratio is presently 15.96%.

Analysts Set New Price Targets

Several equities analysts recently commented on FCX shares. Barclays started coverage on shares of Freeport-McMoRan in a report on Thursday, May 21st. They set an “overweight” rating and a $77.00 price target on the stock. CICC Research cut their price target on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a report on Tuesday, April 28th. Weiss Ratings upgraded shares of Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. BNP Paribas Exane cut their price target on shares of Freeport-McMoRan from $75.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 28th. Finally, Citigroup cut their price target on shares of Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.86.

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.