Iowa State Bank Boosts Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Iowa State Bank grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 28.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 62,206 shares of the natural resource company's stock after purchasing an additional 13,759 shares during the period. Iowa State Bank's holdings in Freeport-McMoRan were worth $2,355,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. General Pension Society PZU Joint Stock Co lifted its stake in Freeport-McMoRan by 26.1% in the first quarter. General Pension Society PZU Joint Stock Co now owns 1,183,904 shares of the natural resource company's stock valued at $44,823,000 after purchasing an additional 245,000 shares during the last quarter. Czech National Bank increased its stake in Freeport-McMoRan by 5.9% in the first quarter. Czech National Bank now owns 330,073 shares of the natural resource company's stock valued at $12,497,000 after acquiring an additional 18,518 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in Freeport-McMoRan by 27.5% in the first quarter. 180 Wealth Advisors LLC now owns 75,384 shares of the natural resource company's stock valued at $2,854,000 after acquiring an additional 16,270 shares during the last quarter. Mirador Capital Partners LP increased its stake in Freeport-McMoRan by 4.5% in the first quarter. Mirador Capital Partners LP now owns 72,570 shares of the natural resource company's stock valued at $2,748,000 after acquiring an additional 3,098 shares during the last quarter. Finally, Wallace Advisory Group LLC increased its stake in Freeport-McMoRan by 10.7% in the first quarter. Wallace Advisory Group LLC now owns 10,490 shares of the natural resource company's stock valued at $399,000 after acquiring an additional 1,012 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

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 shares were 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 now owns 48,333 shares of the company's stock, valued at approximately $1,934,286.66. This represents a 15.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.75% of the company's stock.

Freeport-McMoRan Trading Up 3.3%

FCX stock traded up $1.36 during mid-day trading on Thursday, reaching $42.22. The company had a trading volume of 11,315,242 shares, compared to its average volume of 13,400,871. 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 market capitalization of $60.67 billion, a PE ratio of 32.73, a price-to-earnings-growth ratio of 0.87 and a beta of 1.64. The firm has a 50 day moving average of $36.30 and a 200 day moving average of $38.39. 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 announced its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The firm had revenue of $5.73 billion during the quarter, compared to analysts' expectations of $5.36 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The company's revenue was down 9.4% compared to the same quarter last year. On average, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were given a $0.15 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.42%. Freeport-McMoRan's payout ratio is presently 24.79%.

Analysts Set New Price Targets

A number of research firms recently commented on FCX. Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Hsbc Global Res raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 target price for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. lowered their target price on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Wolfe Research upgraded shares of 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. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.