Vise Technologies Inc. Acquires 10,078 Shares of Freeport-McMoRan Inc. $FCX

Vise Technologies Inc. grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 27.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,540 shares of the natural resource company’s stock after purchasing an additional 10,078 shares during the period. Vise Technologies Inc.’s holdings in Freeport-McMoRan were worth $2,364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Freeport-McMoRan by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 130,332,957 shares of the natural resource company’s stock worth $6,619,611,000 after purchasing an additional 1,572,769 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Freeport-McMoRan by 1.0% in the 4th quarter. Fisher Asset Management LLC now owns 63,880,757 shares of the natural resource company’s stock worth $3,244,504,000 after purchasing an additional 622,343 shares in the last quarter. State Street Corp increased its holdings in shares of Freeport-McMoRan by 1.1% in the 3rd quarter. State Street Corp now owns 62,477,910 shares of the natural resource company’s stock worth $2,450,384,000 after purchasing an additional 690,736 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Freeport-McMoRan by 190.9% in the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after purchasing an additional 23,950,557 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Freeport-McMoRan by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 31,669,550 shares of the natural resource company’s stock worth $1,601,087,000 after purchasing an additional 238,997 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FCX shares. The Goldman Sachs Group raised their price target on Freeport-McMoRan from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $66.00 target price (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday, April 24th. Barclays assumed coverage on Freeport-McMoRan in a research note on Thursday, May 21st. They set an “overweight” rating and a $77.00 price target for the company. CICC Research cut their price target on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a research note on Tuesday, April 28th. Finally, Stifel Nicolaus boosted their price target on Freeport-McMoRan from $52.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.04.

Freeport-McMoRan Price Performance

NYSE FCX opened at $63.37 on Friday. The company has a market capitalization of $91.10 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35. 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 business’s fifty day moving average is $63.48 and its 200 day moving average is $58.17. 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 released its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. Sell-side analysts predict that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s payout ratio is 15.96%.

Freeport-McMoRan Company Profile

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.