Groupe la Francaise Acquires 25,000 Shares of Freeport-McMoRan Inc. $FCX

Groupe la Francaise increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 13.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,000 shares of the natural resource company's stock after acquiring an additional 25,000 shares during the quarter. Groupe la Francaise's holdings in Freeport-McMoRan were worth $13,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of FCX. California State Teachers Retirement System lifted its holdings in shares of Freeport-McMoRan by 6,434.3% during the second quarter. California State Teachers Retirement System now owns 142,181,964 shares of the natural resource company's stock valued at $8,941,824,000 after purchasing an additional 140,006,047 shares during the last quarter. Ameritas Advisory Services LLC grew its stake in shares of Freeport-McMoRan by 89.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 12,008 shares of the natural resource company's stock worth $755,000 after buying an additional 5,682 shares during the last quarter. Guardian Wealth Advisors LLC NC increased its position in Freeport-McMoRan by 6.2% during the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 3,968 shares of the natural resource company's stock valued at $250,000 after buying an additional 230 shares in the last quarter. Wedmont Private Capital increased its position in Freeport-McMoRan by 8.6% during the 2nd quarter. Wedmont Private Capital now owns 17,008 shares of the natural resource company's stock valued at $1,046,000 after buying an additional 1,341 shares in the last quarter. Finally, Kintra Wealth LLC raised its stake in Freeport-McMoRan by 12.7% during the second quarter. Kintra Wealth LLC now owns 5,043 shares of the natural resource company's stock valued at $337,000 after buying an additional 567 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Shares of FCX opened at $72.66 on Monday. The firm has a fifty day simple moving average of $66.40 and a two-hundred day simple moving average of $64.38. The firm has a market cap of $104.34 billion, a PE ratio of 35.79, a P/E/G ratio of 0.71 and a beta of 1.41. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $80.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.12. The firm had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.The company's revenue for the quarter was down 7.3% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. On average, equities analysts anticipate that Freeport-McMoRan Inc. will post 2.81 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.4%. Freeport-McMoRan's dividend payout ratio is presently 14.78%.

Insider Buying and Selling at Freeport-McMoRan

In other news, EVP Douglas N. Currault II sold 80,000 shares of the company's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $78.56, for a total value of $6,284,800.00. Following the completion of the sale, the executive vice president directly owned 211,016 shares in the company, valued at $16,577,416.96. This represents a 27.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Ellie L. Mikes sold 4,773 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $70.00, for a total value of $334,110.00. Following the completion of the sale, the chief accounting officer owned 36,000 shares of the company's stock, valued at approximately $2,520,000. The trade was a 11.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 110,398 shares of company stock worth $8,387,271 over the last quarter. Company insiders own 0.73% of the company's stock.

Wall Street Analyst Weigh In

FCX has been the topic of a number of recent research reports. UBS Group increased their target price on Freeport-McMoRan from $75.00 to $77.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Jefferies Financial Group increased their price objective on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 8th. Wall Street Zen lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Freeport-McMoRan in a report on Friday, May 15th. Finally, The Goldman Sachs Group reduced their price target on shares of Freeport-McMoRan from $75.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $70.27.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.

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