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

Achmea Investment Management B.V. grew its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 42.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,267 shares of the natural resource company's stock after purchasing an additional 24,841 shares during the quarter. Achmea Investment Management B.V.'s holdings in Freeport-McMoRan were worth $3,152,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Mizuho Bank Ltd. bought a new position in Freeport-McMoRan during the 4th quarter valued at $26,000. Vision Financial Markets LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $29,000. Coppell Advisory Solutions LLC raised its holdings in shares of Freeport-McMoRan by 47.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock worth $32,000 after purchasing an additional 268 shares during the period. Finally, City Holding Co. bought a new stake in shares of Freeport-McMoRan in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 80.77% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on FCX shares. Raymond James Financial reissued an "outperform" rating and issued a $52.00 target price on shares of Freeport-McMoRan in a research report on Friday, April 25th. Royal Bank Of Canada lifted their price objective on Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. UBS Group dropped their price objective on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their target price on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a research note on Thursday, March 6th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $48.27.

Freeport-McMoRan Trading Down 0.4%

Shares of NYSE:FCX traded down $0.16 on Monday, reaching $43.71. 1,615,490 shares of the company traded hands, compared to its average volume of 13,361,440. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $52.61. The company has a current ratio of 2.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30. The business's 50-day simple moving average is $39.22 and its 200 day simple moving average is $38.12. The stock has a market capitalization of $62.81 billion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 0.85 and a beta of 1.65.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.03% and a net margin of 7.11%. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The business's quarterly revenue was down 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.37%. Freeport-McMoRan's dividend payout ratio (DPR) is 24.79%.

Insider Activity at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $40.02, for a total value of $343,531.68. Following the completion of the transaction, the chief accounting officer now owns 48,333 shares in the company, valued at approximately $1,934,286.66. This represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is owned by company insiders.

Freeport-McMoRan Profile

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.