Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 3.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,598,393 shares of the natural resource company's stock after buying an additional 49,430 shares during the quarter. Douglas Lane & Associates LLC owned about 0.11% of Freeport-McMoRan worth $60,515,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in FCX. Coppell Advisory Solutions LLC grew its position in shares of Freeport-McMoRan by 47.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock worth $32,000 after acquiring an additional 268 shares during the last quarter. Palogic Value Management L.P. grew its position in Freeport-McMoRan by 1.5% during the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock worth $772,000 after purchasing an additional 292 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Freeport-McMoRan by 0.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock valued at $1,451,000 after purchasing an additional 309 shares during the period. Inspire Advisors LLC increased its stake in Freeport-McMoRan by 2.6% in the fourth quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company's stock valued at $494,000 after purchasing an additional 325 shares during the period. Finally, Soltis Investment Advisors LLC raised its holdings in shares of Freeport-McMoRan by 3.6% in the fourth quarter. Soltis Investment Advisors LLC now owns 10,090 shares of the natural resource company's stock valued at $384,000 after buying an additional 346 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock traded up $1.25 during midday trading on Thursday, reaching $42.11. The company's stock had a trading volume of 11,399,562 shares, compared to its average volume of 16,200,486. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $52.61. The firm has a market capitalization of $60.52 billion, a PE ratio of 32.64, a P/E/G ratio of 0.87 and a beta of 1.64. The stock's 50 day simple moving average is $36.30 and its 200 day simple moving average is $38.39.

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 net margin of 7.42% and a return on equity of 7.50%. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm's revenue was down 9.4% on a year-over-year basis. On average, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

Analysts Set New Price Targets

FCX has been the topic of several recent research reports. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Jefferies Financial Group reiterated a "buy" rating and issued a $50.00 target price (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. UBS Group decreased their price target on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $47.82.

Insider Buying and Selling

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $40.02, for a total transaction of $343,531.68. Following the sale, the chief accounting officer now directly owns 48,333 shares in the company, valued at approximately $1,934,286.66. The trade was 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. Insiders own 0.75% of the company's stock.

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.