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Perpetual Ltd Grows Position in Freeport-McMoRan Inc. (NYSE:FCX)

Freeport-McMoRan logo with Basic Materials background

Perpetual Ltd increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,138,403 shares of the natural resource company's stock after acquiring an additional 86,709 shares during the quarter. Perpetual Ltd owned approximately 0.15% of Freeport-McMoRan worth $100,548,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Foster Group Inc. grew its position in shares of Freeport-McMoRan by 0.8% during the 1st quarter. Foster Group Inc. now owns 32,050 shares of the natural resource company's stock valued at $1,507,000 after acquiring an additional 247 shares during the period. Rise Advisors LLC bought a new position in Freeport-McMoRan during the first quarter valued at $38,000. Mather Group LLC. grew its holdings in Freeport-McMoRan by 1.3% during the first quarter. Mather Group LLC. now owns 17,417 shares of the natural resource company's stock valued at $819,000 after purchasing an additional 222 shares during the period. Tompkins Financial Corp increased its position in Freeport-McMoRan by 33.8% in the first quarter. Tompkins Financial Corp now owns 791 shares of the natural resource company's stock worth $37,000 after buying an additional 200 shares during the last quarter. Finally, Atlas Brown Inc. raised its stake in shares of Freeport-McMoRan by 3.5% in the first quarter. Atlas Brown Inc. now owns 8,687 shares of the natural resource company's stock valued at $408,000 after buying an additional 292 shares during the period. Hedge funds and other institutional investors own 80.77% of the company's stock.


Insider Transactions at Freeport-McMoRan

In related news, CAO Stephen T. Higgins sold 42,767 shares of the company's stock in a transaction 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 sale, the chief accounting officer now directly owns 104,377 shares of the company's stock, valued at $5,255,381.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 42,767 shares of the company's stock in a transaction dated 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 sale, the chief accounting officer now owns 104,377 shares in the company, valued at $5,255,381.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Douglas N. Currault II sold 55,000 shares of Freeport-McMoRan stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the transaction, the vice president now owns 164,067 shares of the company's stock, valued at $8,529,843.33. The disclosure for this sale can be found here. In the last quarter, insiders sold 445,667 shares of company stock valued at $22,755,070. Corporate insiders own 0.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FCX. Argus lifted their price objective on Freeport-McMoRan from $44.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, April 25th. HSBC boosted their price target on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the company a "hold" rating in a research report on Tuesday, April 23rd. Raymond James raised their price objective on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the stock an "outperform" rating in a report on Wednesday, April 24th. Bernstein Bank lifted their price objective on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the company an "overweight" rating in a research note on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Freeport-McMoRan from $48.00 to $51.00 and gave the stock a "hold" rating in a research report on Monday, June 10th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.47.

Read Our Latest Report on FCX

Freeport-McMoRan Price Performance

Shares of NYSE:FCX traded up $1.68 on Thursday, hitting $49.37. The company's stock had a trading volume of 14,665,656 shares, compared to its average volume of 14,243,081. Freeport-McMoRan Inc. has a 1 year low of $32.83 and a 1 year high of $55.24. The company has a market capitalization of $70.92 billion, a PE ratio of 43.69, a PEG ratio of 2.08 and a beta of 1.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.41. The company has a 50-day simple moving average of $50.62 and a 200 day simple moving average of $44.56.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. The business had revenue of $6.32 billion for the quarter, compared to analyst estimates of $5.70 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The company's revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. Sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.71 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, April 12th. Freeport-McMoRan's dividend payout ratio is currently 26.55%.

Freeport-McMoRan Profile

(Free Report)

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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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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