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GoalVest Advisory LLC Boosts Stake in Freeport-McMoRan Inc. (NYSE:FCX)

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GoalVest Advisory LLC lifted its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 57,547.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,671 shares of the natural resource company's stock after purchasing an additional 27,623 shares during the quarter. GoalVest Advisory LLC's holdings in Freeport-McMoRan were worth $1,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Freeport-McMoRan by 0.3% during 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 acquiring an additional 305,912 shares during the last quarter. Capital Research Global Investors increased its position in Freeport-McMoRan by 0.7% during the fourth quarter. Capital Research Global Investors now owns 59,752,726 shares of the natural resource company's stock valued at $2,543,676,000 after acquiring an additional 419,603 shares during the last quarter. Fisher Asset Management LLC increased its position in 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 acquiring an additional 1,030,451 shares during the last quarter. Putnam Investments LLC increased its position in Freeport-McMoRan by 3.7% during the fourth quarter. Putnam Investments LLC now owns 16,647,339 shares of the natural resource company's stock valued at $708,677,000 after acquiring an additional 595,395 shares during the last quarter. Finally, Capital World Investors increased its position in Freeport-McMoRan by 5.8% during the fourth quarter. Capital World Investors now owns 10,758,947 shares of the natural resource company's stock valued at $458,008,000 after acquiring an additional 592,151 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 42,767 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $50.35, for a total transaction of $2,153,318.45. Following the sale, the chief accounting officer now directly owns 104,377 shares in the company, valued at $5,255,381.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 42,767 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $50.35, for a total transaction of $2,153,318.45. Following the sale, the chief accounting officer now directly owns 104,377 shares in the company, valued at $5,255,381.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Stephen T. Higgins sold 80,000 shares of the company's stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $52.03, for a total value of $4,162,400.00. Following the sale, the chief accounting officer now owns 104,377 shares in the company, valued at $5,430,735.31. The disclosure for this sale can be found here. Insiders have sold a total of 445,667 shares of company stock worth $22,755,070 over the last ninety days. Company insiders own 0.79% of the company's stock.

Analyst Ratings Changes

FCX has been the subject of a number of research reports. Argus upped their price objective on Freeport-McMoRan from $44.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, April 25th. Morgan Stanley raised Freeport-McMoRan from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $49.50 to $62.00 in a report on Friday. JPMorgan Chase & Co. cut their price target on Freeport-McMoRan from $52.00 to $51.00 and set a "neutral" rating for the company in a report on Wednesday, April 24th. Raymond James boosted their price target on Freeport-McMoRan from $49.50 to $54.00 and gave the company an "outperform" rating in a report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Freeport-McMoRan from $48.00 to $51.00 and gave the company a "hold" rating in a report on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.93.


View Our Latest Stock Analysis on FCX

Freeport-McMoRan Price Performance

Shares of NYSE:FCX traded down $0.49 during mid-day trading on Tuesday, reaching $49.89. The stock had a trading volume of 8,024,373 shares, compared to its average volume of 14,207,993. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 0.31. The company has a market cap of $71.67 billion, a P/E ratio of 44.15, a price-to-earnings-growth ratio of 2.15 and a beta of 1.96. Freeport-McMoRan Inc. has a 1 year low of $32.83 and a 1 year high of $55.24. The business's 50 day moving average price is $50.64 and its 200 day moving average price is $44.94.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. The company had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The firm's revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. Research analysts expect that Freeport-McMoRan Inc. will post 1.72 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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 dividend of $0.15 per share. The ex-dividend date was Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. Freeport-McMoRan's dividend payout ratio (DPR) is presently 26.55%.

Freeport-McMoRan Company 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)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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