Freeport-McMoRan Inc. (NYSE:FCX) is General Pension Society PZU Joint Stock Co's Largest Position

General Pension Society PZU Joint Stock Co increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 26.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,183,904 shares of the natural resource company's stock after acquiring an additional 245,000 shares during the quarter. Freeport-McMoRan comprises about 15.0% of General Pension Society PZU Joint Stock Co's investment portfolio, making the stock its largest position. General Pension Society PZU Joint Stock Co owned approximately 0.08% of Freeport-McMoRan worth $44,823,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Freeport-McMoRan by 24.2% in 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 during the period. Blue Trust Inc. increased its stake in shares of Freeport-McMoRan by 20.0% during the fourth quarter. Blue Trust Inc. now owns 11,412 shares of the natural resource company's stock worth $435,000 after purchasing an additional 1,899 shares during the period. OLD National Bancorp IN increased its position in Freeport-McMoRan by 9.8% during the fourth quarter. OLD National Bancorp IN now owns 9,913 shares of the natural resource company's stock worth $377,000 after acquiring an additional 887 shares during the period. Heck Capital Advisors LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth about $383,000. Finally, Ausbil Investment Management Ltd increased its position in Freeport-McMoRan by 130.8% during the 4th quarter. Ausbil Investment Management Ltd now owns 16,500 shares of the natural resource company's stock worth $622,000 after purchasing an additional 70,000 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FCX shares. UBS Group lowered their price target on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Wall Street Zen lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Hsbc Global Res raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Wolfe Research upgraded shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective for the company in a research note on Wednesday, April 16th. Finally, Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan currently has a consensus rating of "Moderate Buy" and an average target price of $47.82.

Freeport-McMoRan Stock Up 3.5%

Shares of NYSE FCX traded up $1.44 during mid-day trading on Thursday, hitting $42.30. 10,896,300 shares of the stock traded hands, compared to its average volume of 13,399,351. The stock has a fifty day moving average price of $36.30 and a 200-day moving average price of $38.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The company has a market cap of $60.79 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 0.87 and a beta of 1.64. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $52.61.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results 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 7.50% and a net margin of 7.42%. The firm had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $5.36 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The company's quarterly revenue was down 9.4% on a year-over-year basis. Research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is presently 24.79%.

Insider Transactions at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 8,584 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $40.02, for a total transaction of $343,531.68. Following the completion of the sale, the chief accounting officer now owns 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 document filed with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by company insiders.

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.