Evergreen Capital Management LLC Has $4.89 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Evergreen Capital Management LLC increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,389 shares of the natural resource company’s stock after purchasing an additional 473 shares during the period. Evergreen Capital Management LLC’s holdings in Freeport-McMoRan were worth $4,889,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Freeport-McMoRan by 237.4% during the 4th quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company’s stock valued at $351,041,000 after acquiring an additional 6,486,011 shares during the last quarter. Amundi grew its stake in 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 buying an additional 5,001,531 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Freeport-McMoRan by 38.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company’s stock valued at $619,682,000 after buying an additional 4,488,210 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Freeport-McMoRan by 142.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company’s stock worth $162,964,000 after acquiring an additional 2,515,103 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Freeport-McMoRan by 9.5% during the third quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock valued at $1,348,522,000 after acquiring an additional 2,366,187 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FCX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Raymond James lifted 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. Finally, UBS Group reduced their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.39.

Freeport-McMoRan Stock Down 0.2 %

FCX opened at $33.31 on Thursday. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $55.24. The firm has a market cap of $47.87 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 0.87 and a beta of 1.71. The firm’s 50-day simple moving average is $36.86 and its 200-day simple moving average is $40.75. 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 (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio is currently 23.26%.

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.