Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Cwm LLC

Cwm LLC increased its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 35.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,497 shares of the natural resource company's stock after buying an additional 18,164 shares during the period. Cwm LLC's holdings in Freeport-McMoRan were worth $2,631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FCX. Brighton Jones LLC boosted its position in shares of Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock worth $564,000 after buying an additional 2,882 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in shares of Freeport-McMoRan by 27.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company's stock valued at $20,565,000 after purchasing an additional 115,552 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Freeport-McMoRan by 10.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 36,405 shares of the natural resource company's stock valued at $1,386,000 after purchasing an additional 3,333 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Freeport-McMoRan by 92.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,918 shares of the natural resource company's stock worth $73,000 after purchasing an additional 923 shares during the period. Finally, Intech Investment Management LLC bought a new position in Freeport-McMoRan in the 4th quarter valued at about $943,000. Institutional investors own 80.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FCX. Royal Bank Of Canada upped their price target on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Scotiabank lifted their price target on Freeport-McMoRan from $48.00 to $52.00 and gave the company a "sector outperform" rating in a report on Wednesday, July 9th. Morgan Stanley cut shares of Freeport-McMoRan from an "overweight" rating to an "equal weight" rating and upped their target price for the company from $45.00 to $54.00 in a research report on Tuesday. UBS Group lowered Freeport-McMoRan from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $45.00 to $50.00 in a research report on Friday, July 11th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $52.00 target price on shares of Freeport-McMoRan in a research report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.71.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the business'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 transaction of $343,531.68. Following the completion of the transaction, the chief accounting officer owned 48,333 shares in the company, valued at $1,934,286.66. The trade was a 15.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.75% of the company's stock.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $44.80 on Friday. The stock has a market capitalization of $64.38 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 0.82 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 company has a quick ratio of 1.13, a current ratio of 2.32 and a debt-to-equity ratio of 0.30. The stock's 50-day moving average price is $41.81 and its 200-day moving average price is $38.75.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. The company's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.34%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 24.79%.

Freeport-McMoRan Company 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.

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