Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by Eagle Strategies LLC

Eagle Strategies LLC lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 34.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,925 shares of the natural resource company's stock after acquiring an additional 22,311 shares during the period. Eagle Strategies LLC's holdings in Freeport-McMoRan were worth $3,329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Freeport-McMoRan by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company's stock worth $4,692,191,000 after buying an additional 642,776 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 worth $1,214,203,000 after acquiring an additional 5,735,171 shares in the last quarter. Geode Capital Management LLC grew its holdings in Freeport-McMoRan by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company's stock valued at $1,122,922,000 after purchasing an additional 688,240 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Freeport-McMoRan by 8.0% during the fourth quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company's stock valued at $1,123,445,000 after acquiring an additional 2,191,926 shares during the last quarter. Finally, Capital World Investors lifted its position in Freeport-McMoRan by 3.2% during the fourth quarter. Capital World Investors now owns 24,055,524 shares of the natural resource company's stock worth $916,037,000 after buying an additional 750,500 shares during the period. Hedge funds and other institutional investors own 80.77% of the company's stock.

Insider Transactions at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of the company's stock in a transaction that occurred 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 owns 48,333 shares in the company, valued at $1,934,286.66. This represents a 15.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.79% of the company's stock.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $40.18 on Monday. The firm has a market cap of $57.74 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 0.80 and a beta of 1.65. The stock's 50-day moving average is $38.28 and its 200-day moving average is $38.12. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $52.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.32 and a quick ratio of 1.13.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued 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. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a return on equity of 7.03% and a net margin of 7.11%. The company's quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. Equities analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. Freeport-McMoRan's dividend payout ratio is 24.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. UBS Group cut their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Wolfe Research raised Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target on the stock in a research report on Wednesday, April 16th. Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $52.00 price target on shares of Freeport-McMoRan in a research note on Friday, April 25th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $48.27.

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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