Teza Capital Management LLC Has $1.50 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Teza Capital Management LLC increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 172.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,294 shares of the natural resource company’s stock after purchasing an additional 24,891 shares during the period. Teza Capital Management LLC’s holdings in Freeport-McMoRan were worth $1,496,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Freeport-McMoRan by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company’s stock worth $4,692,191,000 after buying an additional 642,776 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Freeport-McMoRan by 21.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company’s stock worth $1,214,203,000 after buying an additional 5,735,171 shares during the last quarter. Geode Capital Management LLC grew its stake in Freeport-McMoRan by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company’s stock worth $1,122,922,000 after buying an additional 688,240 shares during the last quarter. Franklin Resources Inc. grew 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 buying an additional 2,191,926 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of Freeport-McMoRan by 3.2% during the fourth quarter. Capital World Investors now owns 24,055,524 shares of the natural resource company’s stock valued at $916,037,000 after purchasing an additional 750,500 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $38.01 on Monday. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $55.24. The stock has a market cap of $54.63 billion, a PE ratio of 29.47, a PEG ratio of 0.87 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm’s 50 day moving average price is $36.51 and its two-hundred day moving average price is $38.86.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The firm had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same period last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. As a group, analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.58%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 24.79%.

Wall Street Analyst Weigh In

Several analysts have recently commented on FCX shares. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Thursday, March 6th. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Raymond James reissued an “outperform” rating and set a $52.00 price target on shares of Freeport-McMoRan in a research note on Friday, April 25th. Jefferies Financial Group reissued a “buy” rating and set a $50.00 price target (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.36.

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.