Freeport-McMoRan Inc. (NYSE:FCX) Position Increased by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 141.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,905 shares of the natural resource company's stock after buying an additional 28,104 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Freeport-McMoRan were worth $1,855,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FCX. Brighton Jones LLC grew its stake in Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock worth $564,000 after buying an additional 2,882 shares during the period. Savant Capital LLC lifted its position in shares of Freeport-McMoRan by 18.7% during the fourth quarter. Savant Capital LLC now owns 32,588 shares of the natural resource company's stock worth $1,241,000 after purchasing an additional 5,143 shares in the last quarter. Gladstone Institutional Advisory LLC lifted its position in shares of Freeport-McMoRan by 110.9% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,428 shares of the natural resource company's stock worth $359,000 after purchasing an additional 4,958 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of Freeport-McMoRan by 7.7% during 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. Finally, Avestar Capital LLC lifted its position in shares of Freeport-McMoRan by 15.7% during the fourth quarter. Avestar Capital LLC now owns 12,632 shares of the natural resource company's stock worth $481,000 after purchasing an additional 1,716 shares in the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX traded up $0.94 on Monday, reaching $41.88. 10,501,332 shares of the company's stock were exchanged, compared to its average volume of 13,389,953. The firm has a market capitalization of $60.18 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 0.87 and a beta of 1.64. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $52.61. The business's 50-day moving average is $37.65 and its two-hundred day moving average is $38.19. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

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 for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The company had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The firm's revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were given 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 1.43%. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

Insider Activity at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of the firm's stock in a transaction dated 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 transaction, the chief accounting officer now owns 48,333 shares in the company, valued at approximately $1,934,286.66. This trade represents a 15.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Jefferies Financial Group reissued a "buy" rating and set a $50.00 target price (up from $48.00) on shares of Freeport-McMoRan in a research report on Friday, April 25th. Wolfe Research raised shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price on the stock in a research report on Wednesday, April 16th. Wall Street Zen cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. 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 research report on Wednesday, June 4th. Finally, Scotiabank raised shares of Freeport-McMoRan from a "sector perform" rating to a "sector outperform" rating and upped their price target for the company from $43.00 to $48.00 in a report on Monday. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Freeport-McMoRan has a consensus rating of "Moderate Buy" and an average target price of $48.27.

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.