341,700 Shares in Freeport-McMoRan Inc. $FCX Bought by Nan Fung Trinity HK Ltd.

Key Points

• Nan Fung Trinity HK Ltd. bought 341,700 shares of Freeport-McMoRan in the fourth quarter, a position valued at about $17.4 million and representing 1.4% of its portfolio.
• Institutional ownership remains high, with 80.77% of FCX stock held by hedge funds and other institutional investors. Several other funds also recently opened small positions in the company.
• Wall Street sentiment is broadly positive: analysts currently rate Freeport-McMoRan a Moderate Buy, and the company recently beat quarterly earnings and revenue estimates while also paying a quarterly dividend.

Nan Fung Trinity HK Ltd. purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 341,700 shares of the natural resource company's stock, valued at approximately $17,355,000. Freeport-McMoRan accounts for approximately 1.4% of Nan Fung Trinity HK Ltd.'s investment portfolio, making the stock its 26th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. purchased a new position in Freeport-McMoRan in the 3rd quarter valued at about $25,000. JPL Wealth Management LLC purchased a new position in Freeport-McMoRan in the 3rd quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Freeport-McMoRan in the 3rd quarter valued at about $36,000. Kohmann Bosshard Financial Services LLC purchased a new position in Freeport-McMoRan in the 4th quarter valued at about $38,000. Finally, Grey Fox Wealth Advisors LLC purchased a new position in Freeport-McMoRan in the 3rd quarter valued at about $39,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Freeport-McMoRan in a research report on Tuesday, April 21st. JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $76.00 to $73.00 and set an "overweight" rating for the company in a research report on Monday, April 27th. The Goldman Sachs Group decreased their price objective on shares of Freeport-McMoRan from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, April 24th. Freedom Capital raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Saturday, February 21st. Finally, Bank of America upped their target price on shares of Freeport-McMoRan from $68.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and an average target price of $65.14.

Insiders Place Their Bets

In related news, Chairman Richard C. Adkerson sold 152,960 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the sale, the chairman owned 3,356,159 shares in the company, valued at $216,975,679.35. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Maree E. Robertson sold 48,500 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $61.55, for a total transaction of $2,985,175.00. Following the sale, the chief financial officer owned 79,894 shares in the company, valued at approximately $4,917,475.70. This trade represents a 37.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 565,145 shares of company stock worth $35,839,918. Company insiders own 0.75% of the company's stock.

Freeport-McMoRan News Roundup

Here are the key news stories impacting Freeport-McMoRan this week:

• Positive Sentiment: Zacks Research lifted earnings estimates for multiple future periods, signaling a stronger profit outlook for Freeport-McMoRan.
• Positive Sentiment: Reports that the Grasberg mine may return to full production in 2028 support the longer-term copper production story for FCX.
• Neutral Sentiment: The stock’s recent six-month gain reflects stronger copper prices and earnings, but this move may already reflect much of the optimism. Article Title
• Negative Sentiment: Higher costs and softer production volumes could pressure near-term results and limit upside in FCX shares. Article Title

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $61.65 on Friday. The firm has a market cap of $88.60 billion, a PE ratio of 32.79, a price-to-earnings-growth ratio of 0.74 and a beta of 1.32. The firm's 50-day simple moving average is $61.79 and its 200-day simple moving average is $54.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. Freeport-McMoRan Inc. has a 1 year low of $35.15 and a 1 year high of $70.96.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.10. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The company's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 EPS. Equities analysts forecast that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, April 15th. Freeport-McMoRan's dividend payout ratio is 15.96%.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.

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