Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,304 shares of the natural resource company’s stock after purchasing an additional 754 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Freeport-McMoRan were worth $5,993,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. LRI Investments LLC acquired a new stake in Freeport-McMoRan during the 1st quarter worth about $26,000. Lynx Investment Advisory acquired a new stake in shares of Freeport-McMoRan during the second quarter valued at approximately $26,000. Jones Financial Companies Lllp lifted its position in shares of Freeport-McMoRan by 422.2% in the 4th quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 532 shares in the last quarter. RFP Financial Group LLC boosted its stake in Freeport-McMoRan by 261.3% in the 2nd quarter. RFP Financial Group LLC now owns 589 shares of the natural resource company’s stock worth $29,000 after purchasing an additional 426 shares during the period. Finally, POM Investment Strategies LLC acquired a new position in Freeport-McMoRan in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 0.6 %

NYSE:FCX opened at $41.61 on Thursday. The company has a market capitalization of $59.77 billion, a P/E ratio of 36.82, a P/E/G ratio of 2.08 and a beta of 1.92. The stock’s 50 day moving average price is $45.47 and its 200 day moving average price is $46.82. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.34 and a current ratio of 2.40. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Tuesday, July 23rd. The natural resource company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.39 by $0.07. The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6 billion. Freeport-McMoRan had a net margin of 7.83% and a return on equity of 7.60%. Freeport-McMoRan’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 EPS. On average, research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.44%. The ex-dividend date was Monday, July 15th. Freeport-McMoRan’s payout ratio is 26.55%.

Analyst Ratings Changes

Several analysts have issued reports on FCX shares. UBS Group raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and boosted their target price for the company from $54.00 to $55.00 in a research note on Wednesday. BNP Paribas raised Freeport-McMoRan to a “strong-buy” rating in a research report on Friday, June 21st. Deutsche Bank Aktiengesellschaft raised their price objective on Freeport-McMoRan from $48.00 to $51.00 and gave the stock a “hold” rating in a research report on Monday, June 10th. Raymond James lowered their target price on Freeport-McMoRan from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $60.00 price target on shares of Freeport-McMoRan in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.07.

Freeport-McMoRan 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.