IFM Investors Pty Ltd Has $10.81 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

IFM Investors Pty Ltd raised its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 9.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 285,491 shares of the natural resource company's stock after purchasing 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 reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Calamos Wealth Management LLC lifted its position in shares of 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 acquiring an additional 2,534 shares in the last quarter. Calamos Advisors LLC raised its holdings in shares of Freeport-McMoRan by 0.7% in the 1st quarter. Calamos Advisors LLC now owns 678,332 shares of the natural resource company's stock worth $25,682,000 after purchasing an additional 5,025 shares during the period. Goehring & Rozencwajg Associates LLC grew its stake in shares of Freeport-McMoRan by 2.2% in 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 buying an additional 5,052 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Freeport-McMoRan by 0.6% in 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 buying an additional 10,163 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of Freeport-McMoRan by 226.5% in 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 buying an additional 192,001 shares in the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FCX. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Wolfe Research raised Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price on the stock in a report on Wednesday, April 16th. 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. Wall Street Zen downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Finally, Citigroup increased their target price on Freeport-McMoRan from $44.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.25.

Insider Activity

In other news, CAO Ellie L. Mikes sold 8,584 shares of the business's stock in a transaction 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 directly owned 48,333 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this link. 0.79% of the stock is owned by company insiders.

Freeport-McMoRan Stock Performance

FCX stock traded up $1.42 during trading on Tuesday, reaching $46.55. 37,670,649 shares of the company's stock were exchanged, compared to its average volume of 13,628,843. The company's fifty day moving average price is $40.33 and its 200-day moving average price is $38.34. The firm has a market cap of $66.90 billion, a PE ratio of 38.47, a P/E/G ratio of 0.87 and a beta of 1.64. The company has a quick ratio of 1.13, a current ratio of 2.32 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $52.61.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced 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 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%. Freeport-McMoRan's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. On average, research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.29%. Freeport-McMoRan's dividend payout ratio (DPR) is presently 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.