Natixis Advisors L.P. Has $79.61 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Natixis Advisors L.P. raised its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,870,067 shares of the natural resource company’s stock after purchasing an additional 31,571 shares during the period. Natixis Advisors L.P. owned 0.13% of Freeport-McMoRan worth $79,608,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FCX. Vanguard Group Inc. grew its stake 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 acquiring an additional 305,912 shares in the last quarter. Fisher Asset Management LLC increased 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 worth $2,371,604,000 after purchasing an additional 1,030,451 shares during the period. Northern Trust Corp raised its position in shares of Freeport-McMoRan by 4.2% in the third quarter. Northern Trust Corp now owns 17,756,034 shares of the natural resource company’s stock valued at $662,123,000 after buying an additional 709,114 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Freeport-McMoRan by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company’s stock valued at $279,977,000 after buying an additional 102,466 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Freeport-McMoRan by 18.2% during the third 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 in the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Trading Up 3.4 %

NYSE:FCX traded up $1.68 on Friday, reaching $50.46. 14,495,335 shares of the stock traded hands, compared to its average volume of 14,343,385. The firm has a market capitalization of $72.38 billion, a price-to-earnings ratio of 43.17, a price-to-earnings-growth ratio of 7.98 and a beta of 2.02. Freeport-McMoRan Inc. has a 1-year low of $32.83 and a 1-year high of $52.52. 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’s 50 day moving average is $45.63 and its 200-day moving average is $40.74.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the business posted $0.52 EPS. The business’s revenue was up 17.3% compared to the same quarter last year. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.69 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, April 12th. Freeport-McMoRan’s payout ratio is 26.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bernstein Bank lifted their price objective on Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Scotiabank reduced their price objective on shares of Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, April 24th. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $41.00 to $48.50 in a report on Monday, January 8th. Argus lifted their price objective on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. cut their target price on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.07.

Insider Transactions at Freeport-McMoRan

In other news, CAO Stephen T. Higgins sold 42,767 shares of the firm’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 in the company, valued at approximately $5,255,381.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Freeport-McMoRan news, VP Douglas N. Currault II sold 55,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president now directly owns 164,067 shares of the company’s stock, valued at approximately $8,529,843.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen T. Higgins sold 42,767 shares of the business’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 value of $2,153,318.45. Following the completion of the transaction, the chief accounting officer now 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 a total of 310,896 shares of company stock valued at $15,811,399 in the last quarter. 0.78% of the stock is currently owned by company insiders.

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.