Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lowered its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 60.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 554,064 shares of the natural resource company’s stock after selling 862,601 shares during the quarter. National Bank of Canada FI’s holdings in Freeport-McMoRan were worth $23,321,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CM Management LLC increased its holdings in shares of Freeport-McMoRan by 80.0% in the third quarter. CM Management LLC now owns 36,000 shares of the natural resource company’s stock valued at $1,342,000 after purchasing an additional 16,000 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its position in shares of Freeport-McMoRan by 6.4% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock valued at $14,726,000 after acquiring an additional 20,894 shares during the last quarter. Cadinha & Co. LLC grew its holdings in shares of Freeport-McMoRan by 59.0% in the fourth quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company’s stock valued at $27,572,000 after purchasing an additional 240,340 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Freeport-McMoRan by 1.4% during the third 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 during the period. Finally, Alphinity Investment Management Pty Ltd boosted its holdings in Freeport-McMoRan by 57.4% in the 3rd quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock valued at $201,039,000 after purchasing an additional 1,965,987 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Insider Transactions at Freeport-McMoRan

In other news, VP Douglas N. Currault II sold 55,000 shares of the business’s 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 completion of the sale, the vice president now owns 164,067 shares in the company, valued at approximately $8,529,843.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Stephen T. Higgins sold 42,767 shares of the company’s stock in a transaction dated 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 directly owns 104,377 shares of the company’s stock, valued at approximately $5,255,381.95. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 310,896 shares of company stock valued at $15,811,399. Corporate insiders own 0.78% of the company’s stock.

Freeport-McMoRan Stock Down 0.1 %

Shares of Freeport-McMoRan stock opened at $50.93 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $52.52. The company has a market capitalization of $73.05 billion, a P/E ratio of 45.13, a P/E/G ratio of 8.19 and a beta of 2.02. The company has a 50 day moving average of $46.12 and a 200 day moving average of $41.02.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The business had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the company earned $0.52 EPS. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 1.66 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.18%. Freeport-McMoRan’s payout ratio is currently 26.55%.

Wall Street Analyst Weigh In

FCX has been the topic of several analyst reports. HSBC lifted 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 lifted their target price on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. decreased their price target on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Bernstein Bank lifted their price objective on Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Finally, Argus increased their target price on Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.07.

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.