XTX Topco Ltd Has $3.66 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Key Points

• XTX Topco Ltd increased its position in Freeport-McMoRan Inc. by 689.8% during the first quarter, now holding 96,738 shares valued at approximately $3.66 million.
• Freeport-McMoRan saw a 14.5% increase in revenue compared to the same quarter last year, reporting a revenue of $7.58 billion and an EPS of $0.54 against a consensus estimate of $0.45.
• The company declared a quarterly dividend of $0.15 per share, representing an annual yield of 1.37% and a dividend payout ratio of 22.73%.

XTX Topco Ltd raised its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 689.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 96,738 shares of the natural resource company's stock after acquiring an additional 84,490 shares during the quarter. XTX Topco Ltd's holdings in Freeport-McMoRan were worth $3,663,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of 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 worth $351,041,000 after acquiring an additional 6,486,011 shares during the last quarter. Price T Rowe Associates Inc. MD boosted 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 worth $1,214,203,000 after buying an additional 5,735,171 shares during the period. Bank of New York Mellon Corp boosted 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 worth $830,726,000 after buying an additional 2,642,810 shares during the period. Phoenix Financial Ltd. boosted its holdings in Freeport-McMoRan by 1,354.9% in the 1st quarter. Phoenix Financial Ltd. now owns 2,641,129 shares of the natural resource company's stock worth $100,001,000 after buying an additional 2,459,598 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Freeport-McMoRan by 8.0% during 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 purchasing an additional 2,191,926 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the stock in a transaction 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 sale, the chief accounting officer directly owned 48,333 shares of the company's stock, valued at approximately $1,934,286.66. This represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.75% of the company's stock.

Freeport-McMoRan Trading Down 9.5%

Freeport-McMoRan stock traded down $4.11 during trading on Wednesday, reaching $39.12. The company had a trading volume of 64,833,743 shares, compared to its average volume of 17,264,736. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $52.61. The stock's 50 day moving average price is $42.65 and its two-hundred day moving average price is $39.04. The firm has a market capitalization of $56.22 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 0.79 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.21 and a current ratio of 2.47.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.09. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The company had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $6.85 billion. During the same period in the previous year, the firm earned $0.46 earnings per share. Freeport-McMoRan's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm 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 dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.53%. Freeport-McMoRan's dividend payout ratio (DPR) is 22.73%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FCX shares. Royal Bank Of Canada increased their price target 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. Jefferies Financial Group reaffirmed 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. JPMorgan Chase & Co. lifted their price objective on shares of Freeport-McMoRan from $42.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Wolfe Research raised shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target on the stock in a report on Wednesday, April 16th. Finally, Bank of America reiterated a "neutral" rating and set a $56.00 price objective on shares of Freeport-McMoRan in a research note on Wednesday, July 9th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $51.00.

About Freeport-McMoRan

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.