Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,732,045 shares of the natural resource company’s stock after buying an additional 223,960 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Freeport-McMoRan were worth $329,153,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FCX. CM Management LLC boosted its stake in Freeport-McMoRan by 80.0% in the 3rd quarter. CM Management LLC now owns 36,000 shares of the natural resource company’s stock worth $1,342,000 after purchasing an additional 16,000 shares during the period. Signature Estate & Investment Advisors LLC raised its stake in 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 purchasing an additional 20,894 shares during the period. Cadinha & Co. LLC raised its stake in Freeport-McMoRan by 59.0% during the 4th 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. Alphinity Investment Management Pty Ltd raised its stake 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 valued at $201,039,000 after purchasing an additional 1,965,987 shares during the period. Finally, International Assets Investment Management LLC raised its stake in Freeport-McMoRan by 4,857.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,324,452 shares of the natural resource company’s stock valued at $56,382,000 after purchasing an additional 1,297,737 shares during the period. 80.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction of $2,859,450.00. Following the completion of the transaction, the vice president now owns 164,067 shares of the company’s stock, valued at $8,529,843.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Richard C. Adkerson sold 169,229 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $50.56, for a total transaction of $8,556,218.24. Following the completion of the transaction, the chief executive officer now owns 3,707,249 shares of the company’s stock, valued at $187,438,509.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $2,859,450.00. Following the transaction, the vice president now directly owns 164,067 shares of the company’s stock, valued at approximately $8,529,843.33. The disclosure for this sale can be found here. Insiders sold a total of 365,667 shares of company stock valued at $18,592,670 in the last quarter. Insiders own 0.78% of the company’s stock.

Freeport-McMoRan Stock Down 3.5 %

NYSE:FCX traded down $1.81 during trading hours on Wednesday, reaching $49.58. The company’s stock had a trading volume of 8,265,895 shares, compared to its average volume of 14,221,130. The company has a market cap of $71.12 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 8.19 and a beta of 2.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.41. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $52.52. The business’s 50-day moving average is $46.38 and its 200-day moving average is $41.14.

Freeport-McMoRan (NYSE:FCX) last released its 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. The firm had revenue of $6.32 billion during 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 business’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. Equities research analysts predict that Freeport-McMoRan Inc. will post 1.66 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently announced 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. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Friday, April 12th. Freeport-McMoRan’s dividend payout ratio is 26.55%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FCX. Bernstein Bank boosted their target price 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. JPMorgan Chase & Co. lowered their price target on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. 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 report on Tuesday, April 23rd. Raymond James boosted their price target 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price target on shares of Freeport-McMoRan in a report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target of $50.07.

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.