Robeco Institutional Asset Management B.V. Sells 188,028 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Robeco Institutional Asset Management B.V. cut its position in Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 93.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,115 shares of the natural resource company’s stock after selling 188,028 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Freeport-McMoRan were worth $558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth $27,000. Webster Bank N. A. boosted its position in Freeport-McMoRan by 6,469.2% during the 4th quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock valued at $36,000 after buying an additional 841 shares during the period. EdgeRock Capital LLC bought a new stake in Freeport-McMoRan in the 4th quarter worth $35,000. CVA Family Office LLC bought a new position in shares of Freeport-McMoRan during the fourth quarter valued at about $38,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Freeport-McMoRan by 122.5% during the fourth quarter. Venturi Wealth Management LLC now owns 930 shares of the natural resource company’s stock worth $40,000 after purchasing an additional 512 shares during the period. 80.77% of the stock is owned by institutional investors.

Insider Transactions at Freeport-McMoRan

In related news, VP Douglas N. Currault II sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $51.99, for a total value of $2,859,450.00. Following the transaction, the vice president now directly owns 164,067 shares of the company’s stock, valued at approximately $8,529,843.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Douglas N. Currault II sold 55,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $51.99, for a total value of $2,859,450.00. Following the sale, the vice president now directly owns 164,067 shares in the company, valued at $8,529,843.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard C. Adkerson sold 169,229 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $50.56, for a total value of $8,556,218.24. Following the transaction, the chief executive officer now owns 3,707,249 shares of the company’s stock, valued at approximately $187,438,509.44. The disclosure for this sale can be found here. Insiders sold a total of 445,667 shares of company stock valued at $22,755,070 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group increased their price objective on Freeport-McMoRan from $41.00 to $54.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 target price on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Scotiabank lowered their target price on Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating for the company in a research note on Wednesday, April 24th. Raymond James increased their price objective on Freeport-McMoRan from $49.50 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Argus increased 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, April 25th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and an average target price of $51.00.

Get Our Latest Analysis on FCX

Freeport-McMoRan Stock Down 0.1 %

FCX stock opened at $51.20 on Friday. The business’s 50-day moving average price is $49.50 and its 200-day moving average price is $42.57. The stock has a market cap of $73.43 billion, a P/E ratio of 45.31, a PEG ratio of 2.71 and a beta of 2.02. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $55.24. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCXGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $6.32 billion during the quarter, compared to analyst estimates of $5.70 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The company’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. On average, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.66 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.17%. Freeport-McMoRan’s dividend payout ratio is presently 26.55%.

About Freeport-McMoRan

(Free Report)

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.

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

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