111 Capital Takes $503,000 Position in Freeport-McMoRan Inc. (NYSE:FCX)

111 Capital purchased a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,212 shares of the natural resource company's stock, valued at approximately $503,000.

A number of other large investors have also added to or reduced their stakes in FCX. Madison Investment Advisors LLC bought a new position in shares of Freeport-McMoRan during the fourth quarter valued at about $3,388,000. Vanguard Group Inc. grew its stake in shares of Freeport-McMoRan by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company's stock valued at $4,692,191,000 after buying an additional 642,776 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Freeport-McMoRan by 237.4% during the fourth quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company's stock valued at $351,041,000 after buying an additional 6,486,011 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Freeport-McMoRan by 5.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 159,536 shares of the natural resource company's stock valued at $6,075,000 after buying an additional 8,195 shares during the last quarter. Finally, PGGM Investments grew its stake in shares of Freeport-McMoRan by 220.3% during the fourth quarter. PGGM Investments now owns 40,467 shares of the natural resource company's stock valued at $1,541,000 after buying an additional 27,834 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Trading Up 0.3%

Shares of NYSE FCX traded up $0.13 during trading hours on Tuesday, hitting $40.28. The company's stock had a trading volume of 11,738,649 shares, compared to its average volume of 13,463,532. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The stock has a market cap of $57.89 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 0.87 and a beta of 1.65. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $52.61. The business has a 50-day simple moving average of $36.25 and a 200-day simple moving average of $38.37.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The business's revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. On average, analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.49%. Freeport-McMoRan's payout ratio is 24.79%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $50.00 price objective (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Scotiabank raised their price objective on Freeport-McMoRan from $40.00 to $43.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 14th. Raymond James reaffirmed an "outperform" rating and set a $52.00 price objective on shares of Freeport-McMoRan in a research note on Friday, April 25th. Wolfe Research raised Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective on the stock in a research note on Wednesday, April 16th. Finally, Hsbc Global Res raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $48.36.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $40.02, for a total transaction of $343,531.68. Following the sale, the chief accounting officer now directly owns 48,333 shares of the company's stock, valued at approximately $1,934,286.66. The trade was a 15.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.75% of the company's stock.

About Freeport-McMoRan

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.