Freeport-McMoRan Inc. (NYSE:FCX) Holdings Increased by Achmea Investment Management B.V.

Achmea Investment Management B.V. increased its holdings in Freeport-McMoRan Inc. (NYSE:FCXGet Rating) by 28.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,047 shares of the natural resource company’s stock after purchasing an additional 29,388 shares during the quarter. Achmea Investment Management B.V.’s holdings in Freeport-McMoRan were worth $6,618,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. PFS Investments Inc. raised its stake in Freeport-McMoRan by 14.2% during the 1st quarter. PFS Investments Inc. now owns 117,419 shares of the natural resource company’s stock valued at $5,840,000 after purchasing an additional 14,645 shares during the last quarter. Williams Jones Wealth Management LLC. raised its position in shares of Freeport-McMoRan by 15.5% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 66,517 shares of the natural resource company’s stock valued at $3,309,000 after acquiring an additional 8,902 shares during the period. SVB Wealth LLC acquired a new stake in Freeport-McMoRan during the 1st quarter worth approximately $234,000. Proficio Capital Partners LLC bought a new position in shares of Freeport-McMoRan during the 1st quarter worth approximately $339,000. Finally, Centaurus Financial Inc. bought a new position in shares of Freeport-McMoRan during the 1st quarter worth approximately $463,000. 77.38% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $32.17 on Friday. The company has a fifty day simple moving average of $29.38 and a 200-day simple moving average of $37.79. The company has a quick ratio of 1.94, a current ratio of 2.73 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $45.98 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 0.37 and a beta of 2.00. Freeport-McMoRan Inc. has a 52-week low of $24.80 and a 52-week high of $51.99.

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

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Thursday, July 14th. Freeport-McMoRan’s payout ratio is currently 9.12%.

Insider Buying and Selling

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

Analysts Set New Price Targets

FCX has been the subject of a number of research reports. Credit Suisse Group dropped their target price on Freeport-McMoRan to $34.00 in a report on Friday, July 22nd. Exane BNP Paribas raised Freeport-McMoRan from a “neutral” rating to an “outperform” rating and set a $34.00 price target on the stock in a research note on Wednesday, July 13th. Wolfe Research downgraded Freeport-McMoRan from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 7th. Citigroup increased their price target on Freeport-McMoRan from $28.00 to $29.00 in a research note on Friday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Freeport-McMoRan from $37.00 to $35.00 in a report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.00.

About Freeport-McMoRan

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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.

See Also

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

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