Nisa Investment Advisors LLC Purchases 8,754 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Nisa Investment Advisors LLC increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 349,183 shares of the natural resource company's stock after purchasing an additional 8,754 shares during the period. Nisa Investment Advisors LLC's holdings in Freeport-McMoRan were worth $13,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Freeport-McMoRan by 237.4% in the 4th quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company's stock valued at $351,041,000 after acquiring an additional 6,486,011 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Freeport-McMoRan by 21.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock valued at $1,214,203,000 after acquiring an additional 5,735,171 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Freeport-McMoRan by 38.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company's stock valued at $619,682,000 after acquiring an additional 4,488,210 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Freeport-McMoRan by 13.7% in the 1st quarter. Bank of New York Mellon Corp now owns 21,942,063 shares of the natural resource company's stock valued at $830,726,000 after acquiring an additional 2,642,810 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Freeport-McMoRan by 8.0% in the 4th quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company's stock valued at $1,123,445,000 after acquiring an additional 2,191,926 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the company's stock in a transaction dated 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 owned 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 SEC, which is accessible through this link. 0.79% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group cut Freeport-McMoRan from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $45.00 to $50.00 in a report on Friday. Stifel Canada raised Freeport-McMoRan to a "strong-buy" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on Freeport-McMoRan from $42.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday. Wall Street Zen cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Finally, Bank of America reissued a "neutral" rating and set a $56.00 price target on shares of Freeport-McMoRan in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.00.

Freeport-McMoRan Price Performance

FCX traded down $0.84 on Friday, reaching $46.37. The stock had a trading volume of 17,116,883 shares, compared to its average volume of 13,804,602. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $52.61. The firm has a 50-day moving average of $41.09 and a 200-day moving average of $38.54. The company has a current ratio of 2.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $66.64 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 0.88 and a beta of 1.64.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.03% and a net margin of 7.11%. The business 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 firm earned $0.32 EPS. The business's revenue for the quarter was down 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company 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 1.29%. Freeport-McMoRan's payout ratio is presently 24.79%.

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.