Black Swift Group LLC Boosts Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Black Swift Group LLC raised its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 251.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,210 shares of the natural resource company's stock after buying an additional 55,250 shares during the quarter. Black Swift Group LLC's holdings in Freeport-McMoRan were worth $2,923,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FCX. Brighton Jones LLC grew its position in shares of Freeport-McMoRan by 24.2% during the 4th 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 in the last quarter. Bank Pictet & Cie Europe AG increased its stake in Freeport-McMoRan by 27.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company's stock worth $20,565,000 after acquiring an additional 115,552 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Freeport-McMoRan by 20.0% in the 4th quarter. American Century Companies Inc. now owns 504,987 shares of the natural resource company's stock valued at $19,230,000 after acquiring an additional 84,207 shares in the last quarter. Sei Investments Co. boosted its position in shares of Freeport-McMoRan by 11.7% during the 4th quarter. Sei Investments Co. now owns 799,649 shares of the natural resource company's stock valued at $30,451,000 after acquiring an additional 83,490 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Freeport-McMoRan by 10.1% during the fourth quarter. LPL Financial LLC now owns 1,776,932 shares of the natural resource company's stock worth $67,666,000 after purchasing an additional 162,933 shares in the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

Shares of FCX traded up $0.29 during trading hours on Friday, reaching $44.87. 16,007,183 shares of the stock traded hands, compared to its average volume of 15,786,512. 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 2.47, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30. The company has a market cap of $64.48 billion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 0.83 and a beta of 1.64. The company's 50-day moving average price is $42.17 and its two-hundred day moving average price is $38.90.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.45 by $0.09. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The firm had revenue of $7.58 billion for the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The company's quarterly revenue was up 14.5% compared to the same quarter last year. On average, analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.34%. Freeport-McMoRan's payout ratio is currently 24.79%.

Insider Activity at Freeport-McMoRan

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

Wall Street Analyst Weigh In

FCX has been the subject of several research analyst reports. Morgan Stanley lowered shares of Freeport-McMoRan from an "overweight" rating to an "equal weight" rating and lifted their target price for the company from $45.00 to $54.00 in a research report on Tuesday, July 15th. Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Wall Street Zen lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Scotiabank boosted their price objective on shares of Freeport-McMoRan from $48.00 to $52.00 and gave the stock a "sector outperform" rating in a report on Wednesday, July 9th. Finally, UBS Group downgraded shares of Freeport-McMoRan from a "buy" rating to a "neutral" rating and raised their price target for the company from $45.00 to $50.00 in a report on Friday, July 11th. Eight investment 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.00.

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.