Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 34.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,000 shares of the natural resource company's stock after buying an additional 7,100 shares during the period. Catalyst Capital Advisors LLC's holdings in Freeport-McMoRan were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in shares of Freeport-McMoRan by 24.2% in the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock valued at $564,000 after buying an additional 2,882 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Freeport-McMoRan by 27.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company's stock valued at $20,565,000 after acquiring an additional 115,552 shares in the last quarter. Jones Financial Companies Lllp raised its position in Freeport-McMoRan by 28.2% during the fourth quarter. Jones Financial Companies Lllp now owns 30,190 shares of the natural resource company's stock worth $1,150,000 after acquiring an additional 6,639 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Freeport-McMoRan in the fourth quarter valued at about $194,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Freeport-McMoRan by 11.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 56,066 shares of the natural resource company's stock valued at $2,135,000 after purchasing an additional 5,779 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Insider Activity

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Wall Street Zen cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Raymond James Financial restated an "outperform" rating and issued a $52.00 price objective 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 research report on Wednesday, June 4th. Finally, Scotiabank upgraded shares of Freeport-McMoRan from a "sector perform" rating to a "sector outperform" rating and upped their target price for the company from $43.00 to $48.00 in a report on Monday, June 16th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $48.27.

Freeport-McMoRan Trading Up 0.2%

Freeport-McMoRan stock traded up $0.09 during trading on Friday, reaching $45.86. The company had a trading volume of 7,607,321 shares, compared to its average volume of 13,458,384. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $52.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.13 and a current ratio of 2.32. The stock's 50 day moving average price is $40.18 and its two-hundred day moving average price is $38.30. The firm has a market capitalization of $65.90 billion, a price-to-earnings ratio of 37.90, a PEG ratio of 0.87 and a beta of 1.64.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, topping 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 business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the prior year, the firm posted $0.32 EPS. The business's revenue for the quarter was down 9.4% on a year-over-year basis. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share 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 $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.31%. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

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.