Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by KBC Group NV

KBC Group NV raised its holdings in Freeport-McMoRan Inc. (NYSE:FCXGet Rating) by 15.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 105,356 shares of the natural resource company’s stock after acquiring an additional 13,748 shares during the period. KBC Group NV’s holdings in Freeport-McMoRan were worth $5,240,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Hollencrest Capital Management increased its holdings in shares of Freeport-McMoRan by 0.7% during the 1st quarter. Hollencrest Capital Management now owns 27,728 shares of the natural resource company’s stock worth $1,379,000 after buying an additional 200 shares during the last quarter. Lowe Wealth Advisors LLC increased its holdings in shares of Freeport-McMoRan by 8.6% during the 1st quarter. Lowe Wealth Advisors LLC now owns 3,159 shares of the natural resource company’s stock worth $157,000 after buying an additional 250 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Freeport-McMoRan by 5.7% during the 1st quarter. Lindbrook Capital LLC now owns 4,816 shares of the natural resource company’s stock worth $240,000 after buying an additional 260 shares during the last quarter. Atlas Brown Inc. increased its holdings in Freeport-McMoRan by 5.0% in the 1st quarter. Atlas Brown Inc. now owns 5,536 shares of the natural resource company’s stock valued at $275,000 after purchasing an additional 265 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Freeport-McMoRan by 0.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 95,873 shares of the natural resource company’s stock valued at $4,769,000 after purchasing an additional 304 shares during the last quarter. Institutional investors and hedge funds own 77.37% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of FCX opened at $30.27 on Friday. Freeport-McMoRan Inc. has a 1-year low of $24.80 and a 1-year high of $51.99. The stock has a market cap of $43.87 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.30 and a beta of 2.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.73 and a quick ratio of 1.94. The firm has a fifty day moving average price of $32.14 and a 200 day moving average price of $39.63.

Freeport-McMoRan (NYSE:FCXGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The natural resource company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.31). Freeport-McMoRan had a net margin of 20.08% and a return on equity of 22.04%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same period last year, the firm earned $0.77 earnings per share. Freeport-McMoRan’s revenue was down 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 3.24 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared 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 of this dividend was Thursday, July 14th. This represents a $0.60 dividend on an annualized basis and a yield of 1.98%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 9.12%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Freeport-McMoRan from $46.00 to $47.00 and gave the company a “sector perform” rating in a report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Freeport-McMoRan from $37.00 to $35.00 in a report on Friday, July 22nd. The Goldman Sachs Group dropped their target price on shares of Freeport-McMoRan from $54.00 to $46.00 and set a “buy” rating for the company in a report on Thursday, July 14th. Raymond James decreased their price target on shares of Freeport-McMoRan from $59.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday, July 4th. Finally, Citigroup raised their price target on shares of Freeport-McMoRan from $28.00 to $29.00 in a research report on Friday, July 22nd. 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 company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $42.00.

Insider Activity at Freeport-McMoRan

In other Freeport-McMoRan news, Director Dustan E. Mccoy sold 8,200 shares of Freeport-McMoRan stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $39.24, for a total value of $321,768.00. Following the transaction, the director now directly owns 134,400 shares in the company, valued at $5,273,856. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Freeport-McMoRan news, Director Dustan E. Mccoy sold 8,200 shares of Freeport-McMoRan stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $39.24, for a total value of $321,768.00. Following the transaction, the director now directly owns 134,400 shares in the company, valued at $5,273,856. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sara Grootwassink Lewis acquired 3,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average price of $28.79 per share, for a total transaction of $86,370.00. Following the completion of the purchase, the director now owns 13,800 shares of the company’s stock, valued at approximately $397,302. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate insiders.

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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