Anderson Hoagland & Co. Increases Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Anderson Hoagland & Co. boosted its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 27.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,565 shares of the natural resource company's stock after purchasing an additional 23,695 shares during the quarter. Anderson Hoagland & Co.'s holdings in Freeport-McMoRan were worth $4,148,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in FCX. Strong Tower Advisory Services boosted its position in shares of Freeport-McMoRan by 85.3% during the first quarter. Strong Tower Advisory Services now owns 202,663 shares of the natural resource company's stock valued at $7,673,000 after buying an additional 93,268 shares during the last quarter. NBC Securities Inc. boosted its position in shares of Freeport-McMoRan by 109,931.8% during the first quarter. NBC Securities Inc. now owns 24,207 shares of the natural resource company's stock valued at $916,000 after buying an additional 24,185 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its position in shares of Freeport-McMoRan by 30.5% during the first quarter. Baker Tilly Wealth Management LLC now owns 21,170 shares of the natural resource company's stock valued at $801,000 after buying an additional 4,950 shares during the last quarter. Douglas Lane & Associates LLC boosted its position in shares of Freeport-McMoRan by 3.2% during the first quarter. Douglas Lane & Associates LLC now owns 1,598,393 shares of the natural resource company's stock valued at $60,515,000 after buying an additional 49,430 shares during the last quarter. Finally, Woodstock Corp boosted its position in shares of Freeport-McMoRan by 19.6% during the first quarter. Woodstock Corp now owns 12,204 shares of the natural resource company's stock valued at $462,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $40.02, for a total value of $343,531.68. Following the sale, the chief accounting officer now owns 48,333 shares in the company, valued at $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 is available through the SEC website. Company insiders own 0.75% of the company's stock.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock traded up $1.36 on Thursday, reaching $42.22. The company's stock had a trading volume of 11,315,242 shares, compared to its average volume of 13,400,989. The company has a market capitalization of $60.67 billion, a P/E ratio of 32.73, 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. The stock has a 50-day moving average price of $36.30 and a 200-day moving average price of $38.39. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $5.73 billion during the quarter, compared to analysts' expectations of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The business's revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share. Analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Raymond James reissued an "outperform" rating and issued a $52.00 target price on shares of Freeport-McMoRan in a research report on Friday, April 25th. Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Wolfe Research raised Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Royal Bank of Canada lifted their target price on Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a research note on Wednesday. Five equities research 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 stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and an average price target of $47.82.

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.