Deutsche Bank AG Has $168.86 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Key Points

• Deutsche Bank AG decreased its holdings in Freeport-McMoRan by 18.5%, owning 4,459,995 shares valued at approximately $168.86 million as of the end of the most recent reporting period.
• Vanguard Group Inc. significantly increased its stake, now holding 125,042,285 shares valued at about $4.73 billion, contributing to institutional investors owning 80.77% of the stock.
• Analysts have mixed ratings on Freeport-McMoRan, with an average rating of "Moderate Buy" and a consensus price target of $51.00.

Deutsche Bank AG decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,459,995 shares of the natural resource company's stock after selling 1,009,263 shares during the period. Deutsche Bank AG owned approximately 0.31% of Freeport-McMoRan worth $168,855,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Coppell Advisory Solutions LLC increased its stake 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 valued at $32,000 after purchasing an additional 268 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Freeport-McMoRan by 0.4% during the 1st quarter. Kestra Private Wealth Services LLC now owns 62,015 shares of the natural resource company's stock valued at $2,348,000 after acquiring an additional 275 shares in the last quarter. Princeton Capital Management LLC boosted its holdings in shares of Freeport-McMoRan by 1.1% during the 1st quarter. Princeton Capital Management LLC now owns 25,980 shares of the natural resource company's stock valued at $984,000 after acquiring an additional 275 shares in the last quarter. Capital Investment Advisory Services LLC boosted its holdings in shares of Freeport-McMoRan by 3.2% during the 1st quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company's stock valued at $345,000 after acquiring an additional 278 shares in the last quarter. Finally, Sargent Investment Group LLC boosted its holdings in shares of Freeport-McMoRan by 2.8% during the 1st quarter. Sargent Investment Group LLC now owns 10,421 shares of the natural resource company's stock valued at $395,000 after acquiring an additional 285 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Freeport-McMoRan from $42.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Bank of America reissued a "neutral" rating and set a $56.00 price objective on shares of Freeport-McMoRan in a report on Wednesday, July 9th. BMO Capital Markets cut their price objective on Freeport-McMoRan from $55.00 to $54.00 and set an "outperform" rating on the stock in a report on Thursday, July 24th. Wolfe Research raised Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective on the stock in a report on Wednesday, April 16th. Finally, UBS Group downgraded Freeport-McMoRan from a "buy" rating to a "neutral" rating and raised their price objective for the company from $45.00 to $50.00 in a report on Friday, July 11th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $51.00.

Freeport-McMoRan Trading Up 0.4%

FCX traded up $0.17 during midday trading on Wednesday, hitting $42.32. 6,253,849 shares of the company were exchanged, compared to its average volume of 15,975,027. The firm has a market capitalization of $60.81 billion, a P/E ratio of 32.08, a P/E/G ratio of 0.76 and a beta of 1.63. The company has a quick ratio of 1.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.30. The firm's 50 day moving average price is $42.94 and its 200-day moving average price is $39.11. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $52.61.

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

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. Freeport-McMoRan's dividend payout ratio is 22.73%.

Insider Activity

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 transaction, the chief accounting officer directly owned 48,333 shares of the company's stock, valued at $1,934,286.66. The trade was a 15.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is owned by corporate insiders.

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.