Robeco Institutional Asset Management B.V. Sells 13,271 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Robeco Institutional Asset Management B.V. lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,588 shares of the natural resource company's stock after selling 13,271 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Freeport-McMoRan were worth $2,672,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Mizuho Bank Ltd. bought a new position in shares of Freeport-McMoRan during the 4th quarter valued at approximately $26,000. Vision Financial Markets LLC bought a new position in Freeport-McMoRan during the fourth quarter valued at $27,000. Kohmann Bosshard Financial Services LLC bought a new position in Freeport-McMoRan during the fourth quarter valued at $29,000. Coppell Advisory Solutions LLC increased its position 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 worth $32,000 after buying an additional 268 shares during the last quarter. Finally, City Holding Co. bought a new stake in shares of Freeport-McMoRan in the first quarter valued at $33,000. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Shares of NYSE FCX traded up $0.09 during mid-day trading on Friday, reaching $45.86. 7,607,321 shares of the company were exchanged, compared to its average volume of 13,458,384. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $52.61. The company's 50 day moving average price is $40.01 and its 200 day moving average price is $38.26. The stock has a market capitalization of $65.90 billion, a PE ratio of 37.90, a PEG ratio of 0.86 and a beta of 1.64. The company has a quick ratio of 1.13, a current ratio of 2.32 and a debt-to-equity ratio of 0.30.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued 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. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a return on equity of 7.03% and a net margin of 7.11%. The company's revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. Sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal 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 paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.31%. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target for the company in a research note on Wednesday, April 16th. Raymond James Financial reiterated an "outperform" rating and set a $52.00 target price on shares of Freeport-McMoRan in a research report on Friday, April 25th. Wall Street Zen lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Royal Bank Of Canada raised their price objective 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. Finally, Hsbc Global Res raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued 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 $48.27.

Insider Buying and Selling

In other news, CAO Ellie L. Mikes sold 8,584 shares of the business'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 directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is owned by insiders.

Freeport-McMoRan Company 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.