41,938 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Bought by TCG Advisory Services LLC

TCG Advisory Services LLC acquired a new position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 41,938 shares of the natural resource company's stock, valued at approximately $1,785,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FCX. Vanguard Group Inc. increased its holdings in shares of Freeport-McMoRan by 0.3% in the third quarter. Vanguard Group Inc. now owns 119,369,409 shares of the natural resource company's stock valued at $4,451,285,000 after buying an additional 305,912 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Freeport-McMoRan by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 55,710,695 shares of the natural resource company's stock valued at $2,371,604,000 after purchasing an additional 1,030,451 shares during the last quarter. Northern Trust Corp boosted its position in shares of Freeport-McMoRan by 4.2% in the 3rd quarter. Northern Trust Corp now owns 17,756,034 shares of the natural resource company's stock valued at $662,123,000 after purchasing an additional 709,114 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Freeport-McMoRan by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company's stock worth $279,977,000 after purchasing an additional 102,466 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Freeport-McMoRan by 18.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,393,868 shares of the natural resource company's stock worth $238,427,000 after buying an additional 986,703 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FCX. Argus lifted their target price on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, April 25th. Bernstein Bank increased their target price on Freeport-McMoRan from $52.00 to $52.50 and gave the company an "overweight" rating in a report on Tuesday, April 23rd. Sanford C. Bernstein raised Freeport-McMoRan from a "market perform" rating to an "outperform" rating and upped their price target for the company from $41.00 to $48.50 in a research report on Monday, January 8th. Bank of America raised Freeport-McMoRan from a "neutral" rating to a "buy" rating and set a $59.00 price objective for the company in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $55.00 target price on shares of Freeport-McMoRan in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.07.

Insiders Place Their Bets

In related news, VP Douglas N. Currault II sold 55,000 shares of the firm's stock in a transaction on Monday, April 29th. The shares were sold at an average price of $51.99, for a total value of $2,859,450.00. Following the transaction, the vice president now directly owns 164,067 shares in the company, valued at approximately $8,529,843.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Douglas N. Currault II sold 55,000 shares of the business's stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the completion of the transaction, the vice president now owns 164,067 shares of the company's stock, valued at approximately $8,529,843.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephen T. Higgins sold 42,767 shares of the firm's stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $50.35, for a total value of $2,153,318.45. Following the completion of the sale, the chief accounting officer now directly owns 104,377 shares in the company, valued at approximately $5,255,381.95. The disclosure for this sale can be found here. Insiders sold 310,896 shares of company stock valued at $15,811,399 over the last 90 days. 0.78% of the stock is currently owned by company insiders.

Freeport-McMoRan Stock Up 3.4 %

Shares of Freeport-McMoRan stock traded up $1.67 during midday trading on Friday, reaching $50.45. 14,498,117 shares of the company's stock traded hands, compared to its average volume of 17,456,276. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.41 and a current ratio of 2.35. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $52.52. The company's 50 day simple moving average is $45.86 and its 200 day simple moving average is $40.84. The company has a market cap of $72.37 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 7.92 and a beta of 2.02.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The company had revenue of $6.32 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the company earned $0.52 earnings per share. The business's revenue was up 17.3% compared to the same quarter last year. Equities analysts expect that Freeport-McMoRan Inc. will post 1.66 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 15th were issued a $0.15 dividend. The ex-dividend date was Friday, April 12th. This represents a $0.60 annualized dividend and a yield of 1.19%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 26.55%.

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.