Assenagon Asset Management S.A. Has $130.69 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Assenagon Asset Management S.A. decreased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 19.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,451,862 shares of the natural resource company's stock after selling 827,655 shares during the period. Assenagon Asset Management S.A. owned 0.24% of Freeport-McMoRan worth $130,687,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock valued at $564,000 after purchasing an additional 2,882 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth $2,102,000. Apollon Wealth Management LLC boosted its position in Freeport-McMoRan by 5.5% in the 4th quarter. Apollon Wealth Management LLC now owns 39,486 shares of the natural resource company's stock valued at $1,504,000 after buying an additional 2,055 shares during the last quarter. Stephens Inc. AR increased its stake in shares of Freeport-McMoRan by 4.8% in the 4th quarter. Stephens Inc. AR now owns 54,429 shares of the natural resource company's stock valued at $2,073,000 after buying an additional 2,493 shares during the period. Finally, Kestra Private Wealth Services LLC raised its position in shares of Freeport-McMoRan by 5.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 61,740 shares of the natural resource company's stock worth $2,351,000 after acquiring an additional 3,167 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Insider Buying and Selling at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $40.02, for a total value of $343,531.68. Following the sale, the chief accounting officer now directly owns 48,333 shares in the company, valued at $1,934,286.66. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.75% of the company's stock.

Freeport-McMoRan Trading Down 0.8%

Shares of FCX stock traded down $0.32 on Friday, hitting $40.86. The stock had a trading volume of 9,721,377 shares, compared to its average volume of 13,377,352. The firm has a market cap of $58.72 billion, a P/E ratio of 31.68, a PEG ratio of 0.87 and a beta of 1.64. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $52.61. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $37.16 and a two-hundred day moving average price of $38.30.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The company's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. As a group, analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued 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 1.47%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 24.79%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. UBS Group cut their target price on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Hsbc Global Res upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Scotiabank boosted their price target on shares of Freeport-McMoRan from $40.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 14th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $50.00 price objective (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Freeport-McMoRan currently has an average rating of "Moderate Buy" and an average target price of $47.82.

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.