IFM Investors Pty Ltd Purchases 24,532 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

IFM Investors Pty Ltd grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 9.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 285,491 shares of the natural resource company's stock after buying an additional 24,532 shares during the period. IFM Investors Pty Ltd's holdings in Freeport-McMoRan were worth $10,809,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Calamos Wealth Management LLC boosted its stake in Freeport-McMoRan by 36.0% in the first quarter. Calamos Wealth Management LLC now owns 9,581 shares of the natural resource company's stock valued at $363,000 after buying an additional 2,534 shares in the last quarter. Calamos Advisors LLC boosted its stake in shares of Freeport-McMoRan by 0.7% during the first quarter. Calamos Advisors LLC now owns 678,332 shares of the natural resource company's stock valued at $25,682,000 after purchasing an additional 5,025 shares in the last quarter. Goehring & Rozencwajg Associates LLC boosted its stake in shares of Freeport-McMoRan by 2.2% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 230,701 shares of the natural resource company's stock valued at $9,390,000 after purchasing an additional 5,052 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Freeport-McMoRan by 0.6% during the first quarter. Principal Financial Group Inc. now owns 1,678,407 shares of the natural resource company's stock valued at $63,544,000 after purchasing an additional 10,163 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Freeport-McMoRan by 226.5% during the first quarter. Teacher Retirement System of Texas now owns 276,753 shares of the natural resource company's stock valued at $10,478,000 after purchasing an additional 192,001 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FCX. JPMorgan Chase & Co. cut their price target 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. Jefferies Financial Group reissued a "buy" rating and set a $50.00 price target (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Royal Bank Of Canada lifted their price target on Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Finally, 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 note on Wednesday, April 16th. Four investment 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.27.

Freeport-McMoRan Trading Up 0.2%

FCX stock traded up $0.09 during mid-day trading on Friday, reaching $45.86. The company's stock had a trading volume of 7,607,321 shares, compared to its average volume of 13,479,098. The company has a market cap of $65.90 billion, a price-to-earnings ratio of 37.90, a price-to-earnings-growth ratio of 0.87 and a beta of 1.64. The business's 50 day moving average price is $40.18 and its 200 day moving average price is $38.29. The company has a current ratio of 2.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $52.61.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share 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 the consensus estimate of $5.36 billion. Freeport-McMoRan had a return on equity of 7.03% and a net margin of 7.11%. The firm's revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders 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 yield of 1.31%. Freeport-McMoRan's payout ratio is currently 24.79%.

Insiders Place Their Bets

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 48,333 shares in the company, valued at approximately $1,934,286.66. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.79% of the company's stock.

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.