Bourgeon Capital Management LLC Has $11.61 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Bourgeon Capital Management LLC raised its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 56.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 306,746 shares of the natural resource company's stock after acquiring an additional 111,038 shares during the quarter. Freeport-McMoRan comprises 2.5% of Bourgeon Capital Management LLC's holdings, making the stock its 11th largest position. Bourgeon Capital Management LLC's holdings in Freeport-McMoRan were worth $11,613,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in Freeport-McMoRan by 237.4% in the 4th quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company's stock valued at $351,041,000 after purchasing an additional 6,486,011 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Freeport-McMoRan by 21.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock valued at $1,214,203,000 after acquiring an additional 5,735,171 shares during the period. Amundi grew its stake in shares of Freeport-McMoRan by 30.2% in the fourth quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock valued at $857,305,000 after acquiring an additional 5,001,531 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Freeport-McMoRan by 38.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company's stock worth $619,682,000 after acquiring an additional 4,488,210 shares during the period. Finally, Franklin Resources Inc. raised its stake in Freeport-McMoRan by 8.0% in the 4th quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company's stock worth $1,123,445,000 after purchasing an additional 2,191,926 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

FCX stock traded up $0.70 during trading on Wednesday, reaching $40.94. 10,977,612 shares of the company were exchanged, compared to its average volume of 13,453,633. The company has a market capitalization of $58.83 billion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 0.87 and a beta of 1.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The company has a 50-day moving average of $36.25 and a two-hundred day moving average of $38.37. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $52.61.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results 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. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The company had revenue of $5.73 billion during the quarter, compared to analysts' expectations of $5.36 billion. During the same period in the prior year, the company earned $0.32 EPS. Freeport-McMoRan's revenue was down 9.4% compared to the same quarter last year. As a group, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company 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 1.47%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

Insider Activity

In related news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan 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 sale, the chief accounting officer now directly owns 48,333 shares in the company, valued at $1,934,286.66. This trade represents a 15.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on FCX shares. Royal Bank of Canada raised their target price on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a report on Wednesday. Raymond James reaffirmed an "outperform" rating and issued a $52.00 price objective on shares of Freeport-McMoRan in a report on Friday, April 25th. UBS Group reduced their target price on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Jefferies Financial Group restated a "buy" rating and issued a $50.00 price target (up previously from $48.00) on shares of Freeport-McMoRan in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Five 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.