Rothschild & Co. Asset Management US Inc. Purchases 3,343 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Rothschild & Co. Asset Management US Inc. grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCXGet Rating) by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,800 shares of the natural resource company’s stock after buying an additional 3,343 shares during the quarter. Rothschild & Co. Asset Management US Inc.’s holdings in Freeport-McMoRan were worth $3,871,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Capital Research Global Investors raised its holdings in shares of Freeport-McMoRan by 19.5% in the 4th quarter. Capital Research Global Investors now owns 73,817,050 shares of the natural resource company’s stock worth $3,080,385,000 after purchasing an additional 12,060,475 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Freeport-McMoRan by 3.9% in the 1st quarter. Fisher Asset Management LLC now owns 50,750,501 shares of the natural resource company’s stock worth $2,524,330,000 after purchasing an additional 1,897,056 shares during the period. Waratah Capital Advisors Ltd. raised its holdings in shares of Freeport-McMoRan by 102.9% in the 4th quarter. Waratah Capital Advisors Ltd. now owns 37,679 shares of the natural resource company’s stock worth $1,572,000 after purchasing an additional 1,329,688 shares during the period. Ardevora Asset Management LLP bought a new stake in shares of Freeport-McMoRan in the 1st quarter worth approximately $55,818,000. Finally, AGF Investments Inc. bought a new stake in shares of Freeport-McMoRan in the 1st quarter worth approximately $52,570,000. Institutional investors own 77.38% of the company’s stock.

Freeport-McMoRan Stock Up 7.9 %

FCX opened at $30.62 on Friday. The company has a fifty day moving average price of $29.32 and a 200-day moving average price of $37.89. The firm has a market capitalization of $43.76 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 0.34 and a beta of 2.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.73 and a quick ratio of 1.94. Freeport-McMoRan Inc. has a one year low of $24.80 and a one year high of $51.99.

Freeport-McMoRan (NYSE:FCXGet Rating) last announced its earnings results on Thursday, July 21st. The natural resource company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.31). Freeport-McMoRan had a return on equity of 22.04% and a net margin of 20.08%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The firm’s revenue was down 5.8% on a year-over-year basis. Equities research analysts expect that Freeport-McMoRan Inc. will post 2.84 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 15th were given a $0.15 dividend. The ex-dividend date was Thursday, July 14th. This represents a $0.60 annualized dividend and a yield of 1.96%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 9.12%.

Analysts Set New Price Targets

A number of research firms recently commented on FCX. BNP Paribas raised shares of Freeport-McMoRan from a “neutral” rating to an “outperform” rating and set a $34.00 price target on the stock in a report on Wednesday, July 13th. Wolfe Research lowered shares of Freeport-McMoRan from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 7th. Exane BNP Paribas upgraded shares of Freeport-McMoRan from a “neutral” rating to an “outperform” rating and set a $34.00 price objective for the company in a research note on Wednesday, July 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Freeport-McMoRan from $37.00 to $35.00 in a research note on Friday, July 22nd. Finally, StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan presently has a consensus rating of “Hold” and an average price target of $42.00.

Insider Buying and Selling

In related news, Director Sara Grootwassink Lewis bought 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was bought at an average cost of $28.79 per share, for a total transaction of $86,370.00. Following the completion of the transaction, the director now owns 13,800 shares of the company’s stock, valued at $397,302. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Ryan Michael Lance bought 31,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was bought at an average cost of $31.88 per share, for a total transaction of $988,280.00. Following the completion of the transaction, the director now owns 32,132 shares of the company’s stock, valued at $1,024,368.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sara Grootwassink Lewis purchased 3,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average cost of $28.79 per share, with a total value of $86,370.00. Following the completion of the purchase, the director now directly owns 13,800 shares of the company’s stock, valued at $397,302. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company insiders.

Freeport-McMoRan Company Profile

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Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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