Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by NBC Securities Inc.

NBC Securities Inc. boosted its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 109,931.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,207 shares of the natural resource company's stock after purchasing an additional 24,185 shares during the quarter. NBC Securities Inc.'s holdings in Freeport-McMoRan were worth $916,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Asset Planning Inc purchased a new stake in Freeport-McMoRan during the fourth quarter valued at about $25,000. Mizuho Bank Ltd. bought a new stake in shares of Freeport-McMoRan in the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new position in shares of Freeport-McMoRan in the fourth quarter valued at $27,000. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan in the fourth quarter valued at $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth approximately $29,000. Institutional investors own 80.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FCX. Wolfe Research upgraded 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. JPMorgan Chase & Co. reduced their target price on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. 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. Finally, Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Five equities 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.82.

Insider Activity

In related 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 value of $343,531.68. Following the sale, the chief accounting officer now owns 48,333 shares in the company, valued at approximately $1,934,286.66. The trade was a 15.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.75% of the company's stock.

Freeport-McMoRan Trading Up 2.0%

Shares of FCX traded up $0.80 during midday trading on Thursday, hitting $41.66. The stock had a trading volume of 17,268,790 shares, compared to its average volume of 13,423,562. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $52.61. 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 firm has a market cap of $59.87 billion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 0.87 and a beta of 1.64. The stock's 50 day moving average is $36.30 and its 200 day moving average is $38.39.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) 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 business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The business's revenue for the quarter was down 9.4% on a year-over-year basis. As a group, analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued 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 1.44%. Freeport-McMoRan's payout ratio is 24.79%.

About Freeport-McMoRan

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.