Tokio Marine Asset Management Co. Ltd. Boosts Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,175 shares of the natural resource company’s stock after buying an additional 2,099 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Freeport-McMoRan were worth $1,540,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FCX. Avior Wealth Management LLC raised its stake in Freeport-McMoRan by 41.2% in the third quarter. Avior Wealth Management LLC now owns 1,680 shares of the natural resource company’s stock worth $63,000 after buying an additional 490 shares in the last quarter. CX Institutional increased its position in shares of Freeport-McMoRan by 6.2% during the third quarter. CX Institutional now owns 10,244 shares of the natural resource company’s stock valued at $382,000 after acquiring an additional 597 shares in the last quarter. Czech National Bank increased its position in shares of Freeport-McMoRan by 47.7% during the third quarter. Czech National Bank now owns 250,570 shares of the natural resource company’s stock valued at $9,344,000 after acquiring an additional 80,898 shares in the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Freeport-McMoRan by 4.7% during the third quarter. Aaron Wealth Advisors LLC now owns 279,168 shares of the natural resource company’s stock valued at $10,410,000 after acquiring an additional 12,414 shares in the last quarter. Finally, Simplicity Solutions LLC increased its position in shares of Freeport-McMoRan by 133.2% during the third quarter. Simplicity Solutions LLC now owns 154,649 shares of the natural resource company’s stock valued at $5,767,000 after acquiring an additional 88,344 shares in the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

NYSE FCX traded up $1.01 during mid-day trading on Friday, reaching $50.41. 1,711,961 shares of the stock were exchanged, compared to its average volume of 13,775,861. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.38 and a current ratio of 2.35. The company has a market capitalization of $72.31 billion, a P/E ratio of 43.72, a P/E/G ratio of 2.21 and a beta of 2.04. Freeport-McMoRan Inc. has a 1 year low of $32.83 and a 1 year high of $52.42. The business’s 50 day moving average is $44.24 and its 200-day moving average is $40.20.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The business had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the firm earned $0.52 EPS. The business’s revenue was up 17.3% on a year-over-year basis. On average, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.58 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. Freeport-McMoRan’s payout ratio is currently 26.55%.

Analyst Ratings Changes

FCX has been the topic of several research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 target price on shares of Freeport-McMoRan in a report on Thursday, January 25th. HSBC raised their target price on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday. Argus lifted their price target on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Bernstein Bank lifted their price target on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.07.

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.