BI Asset Management Fondsmaeglerselskab A S Acquires 25,468 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 21.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 144,563 shares of the natural resource company's stock after acquiring an additional 25,468 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Freeport-McMoRan were worth $6,154,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Boston Partners boosted its stake in Freeport-McMoRan by 13,248.4% in the 4th quarter. Boston Partners now owns 5,351,630 shares of the natural resource company's stock worth $227,747,000 after purchasing an additional 5,311,538 shares during the period. Capital Wealth Planning LLC bought a new position in shares of Freeport-McMoRan in the third quarter valued at approximately $160,160,000. Mizuho Markets Americas LLC purchased a new position in Freeport-McMoRan during the third quarter valued at approximately $141,407,000. Alphinity Investment Management Pty Ltd increased its holdings in Freeport-McMoRan by 57.4% during the 3rd quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company's stock worth $201,039,000 after acquiring an additional 1,965,987 shares during the period. Finally, AustralianSuper Pty Ltd purchased a new stake in Freeport-McMoRan in the 4th quarter worth approximately $66,993,000. 80.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of recent analyst reports. Argus boosted their price target on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, April 25th. Bank of America upgraded Freeport-McMoRan from a "neutral" rating to a "buy" rating and set a $59.00 target price on the stock in a research note on Tuesday, April 9th. UBS Group lifted their price target on Freeport-McMoRan from $41.00 to $54.00 and gave the company a "neutral" rating in a research report on Tuesday, May 14th. Bernstein Bank boosted their price objective on Freeport-McMoRan from $52.00 to $52.50 and gave the stock an "overweight" rating in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Freeport-McMoRan from $52.00 to $51.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $51.00.

Insider Buying and Selling at Freeport-McMoRan

In other news, 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 transaction, the chief accounting officer now owns 104,377 shares in the company, valued at $5,255,381.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 43,900 shares of the company's stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $51.08, for a total transaction of $2,242,412.00. Following the completion of the transaction, the chief accounting officer now owns 104,377 shares of the company's stock, valued at approximately $5,331,577.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen T. Higgins sold 42,767 shares of Freeport-McMoRan stock in a transaction that occurred on Friday, May 3rd. The stock was 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 owns 104,377 shares in the company, valued at $5,255,381.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 445,667 shares of company stock worth $22,755,070. 0.78% of the stock is currently owned by insiders.

Freeport-McMoRan Trading Up 4.2 %

Shares of FCX stock traded up $2.19 on Friday, hitting $54.23. 17,946,540 shares of the company's stock traded hands, compared to its average volume of 16,270,298. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.41 and a current ratio of 2.35. The stock has a market capitalization of $77.79 billion, a price-to-earnings ratio of 47.99, a P/E/G ratio of 8.82 and a beta of 2.02. The company's fifty day simple moving average is $48.62 and its 200 day simple moving average is $42.18. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $54.35.

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

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.60 annualized dividend and a yield of 1.11%. Freeport-McMoRan's payout ratio is currently 26.55%.

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.

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