Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,678,407 shares of the natural resource company's stock after acquiring an additional 10,163 shares during the period. Principal Financial Group Inc. owned 0.12% of Freeport-McMoRan worth $63,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of FCX. Mizuho Bank Ltd. acquired a new position in Freeport-McMoRan in the fourth quarter valued at $26,000. Coppell Advisory Solutions LLC boosted its stake in Freeport-McMoRan by 47.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock valued at $32,000 after acquiring an additional 268 shares in the last quarter. City Holding Co. acquired a new position in Freeport-McMoRan in the first quarter valued at $33,000. Bernard Wealth Management Corp. acquired a new position in Freeport-McMoRan in the fourth quarter valued at $35,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Freeport-McMoRan in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Raymond James Financial reiterated an "outperform" rating and set a $52.00 target price on shares of Freeport-McMoRan in a research note on Friday, April 25th. Wall Street Zen cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Scotiabank raised shares of Freeport-McMoRan from a "sector perform" rating to a "sector outperform" rating and increased their target price for the company from $43.00 to $48.00 in a report on Monday, June 16th. Royal Bank Of Canada increased their target price on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Finally, UBS Group lowered their price target on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $48.27.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction 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 transaction, the chief accounting officer owned 48,333 shares in the company, valued at $1,934,286.66. This trade represents a 15.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is currently owned by company insiders.

Freeport-McMoRan Trading Up 0.3%

NYSE FCX traded up $0.13 during mid-day trading on Tuesday, reaching $45.26. 4,221,776 shares of the stock were exchanged, compared to its average volume of 13,498,949. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $52.61. The business's fifty day simple moving average is $40.33 and its 200 day simple moving average is $38.34. The stock has a market capitalization of $65.04 billion, a PE ratio of 37.40, a PEG ratio of 0.87 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.13 and a current ratio of 2.32.

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. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter last year, the business earned $0.32 earnings per share. Freeport-McMoRan's revenue was down 9.4% compared to the same quarter last year. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared 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 dividend yield of 1.33%. Freeport-McMoRan's dividend payout ratio (DPR) 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.