NorthCrest Asset Manangement LLC Has $17.15 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

NorthCrest Asset Manangement LLC boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 453,073 shares of the natural resource company's stock after acquiring an additional 8,131 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Freeport-McMoRan were worth $17,153,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC increased its stake in Freeport-McMoRan by 47.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock worth $32,000 after acquiring an additional 268 shares during the last quarter. Palogic Value Management L.P. grew its holdings in Freeport-McMoRan by 1.5% during the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock valued at $772,000 after purchasing an additional 292 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Freeport-McMoRan by 0.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock valued at $1,451,000 after acquiring an additional 309 shares during the period. Inspire Advisors LLC lifted its holdings in Freeport-McMoRan by 2.6% during the 4th quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company's stock valued at $494,000 after buying an additional 325 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC grew its stake in Freeport-McMoRan by 7.7% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 5,453 shares of the natural resource company's stock worth $208,000 after purchasing an additional 389 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Insider Transactions at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 8,584 shares of the firm'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 transaction of $343,531.68. Following the completion of the sale, the chief accounting officer now directly owns 48,333 shares in the company, valued at approximately $1,934,286.66. This trade represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.75% of the company's stock.

Freeport-McMoRan Trading Up 2.3%

Shares of FCX stock traded up $0.94 during trading hours on Monday, hitting $41.88. 10,451,047 shares of the company were exchanged, compared to its average volume of 13,389,913. The firm has a market cap of $60.18 billion, a PE ratio of 32.46, a PEG ratio of 0.87 and a beta of 1.64. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average of $37.39 and a 200 day moving average of $38.20. 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 issued its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter last year, the firm earned $0.32 EPS. Freeport-McMoRan's quarterly revenue was down 9.4% on a year-over-year basis. Analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's payout ratio is 24.79%.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Raymond James reiterated an "outperform" rating and set a $52.00 target price on shares of Freeport-McMoRan in a research report on Friday, April 25th. Scotiabank raised shares of Freeport-McMoRan from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $43.00 to $48.00 in a research note on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. Finally, UBS Group cut their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.27.

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.