39,000 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Purchased by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC purchased a new position in Freeport-McMoRan Inc. (NYSE:FCXGet Rating) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 39,000 shares of the natural resource company’s stock, valued at approximately $1,627,000.

A number of other institutional investors have also recently made changes to their positions in the stock. People s United Financial Inc. increased its holdings in Freeport-McMoRan by 0.9% in the third quarter. People s United Financial Inc. now owns 27,531 shares of the natural resource company’s stock valued at $896,000 after buying an additional 256 shares during the last quarter. Cabot Wealth Management Inc. grew its holdings in shares of Freeport-McMoRan by 0.3% during the fourth quarter. Cabot Wealth Management Inc. now owns 97,461 shares of the natural resource company’s stock valued at $4,067,000 after purchasing an additional 295 shares during the last quarter. Asahi Life Asset Management CO. LTD. grew its holdings in shares of Freeport-McMoRan by 2.4% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 12,760 shares of the natural resource company’s stock valued at $532,000 after purchasing an additional 300 shares during the last quarter. Stelac Advisory Services LLC grew its holdings in shares of Freeport-McMoRan by 3.1% during the third quarter. Stelac Advisory Services LLC now owns 11,513 shares of the natural resource company’s stock valued at $375,000 after purchasing an additional 348 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of Freeport-McMoRan by 67.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 900 shares of the natural resource company’s stock valued at $38,000 after purchasing an additional 361 shares during the last quarter. 77.37% of the stock is owned by hedge funds and other institutional investors.

FCX traded up $1.77 during trading on Tuesday, reaching $36.92. The stock had a trading volume of 687,818 shares, compared to its average volume of 21,658,812. The firm has a market capitalization of $53.51 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 0.31 and a beta of 2.01. The company has a quick ratio of 1.68, a current ratio of 2.37 and a debt-to-equity ratio of 0.34. Freeport-McMoRan Inc. has a 1-year low of $30.02 and a 1-year high of $51.99. The stock has a 50 day moving average of $45.64 and a two-hundred day moving average of $42.45.

Freeport-McMoRan (NYSE:FCXGet Rating) last released its earnings results on Thursday, April 21st. The natural resource company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.19. The firm had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.29 billion. Freeport-McMoRan had a return on equity of 24.06% and a net margin of 20.79%. The firm’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 earnings per share. On average, research analysts forecast that Freeport-McMoRan Inc. will post 3.83 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Thursday, April 14th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, April 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.63%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 8.70%.

In related news, Director Hugh Grant acquired 12,300 shares of the business’s stock in a transaction dated Monday, April 25th. The stock was bought at an average price of $40.75 per share, for a total transaction of $501,225.00. Following the transaction, the director now owns 15,776 shares of the company’s stock, valued at $642,872. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kathleen L. Quirk sold 80,000 shares of the stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $44.02, for a total value of $3,521,600.00. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Several equities analysts have recently commented on FCX shares. Raymond James set a $59.00 target price on Freeport-McMoRan and gave the company an “outperform” rating in a report on Friday, April 22nd. Wolfe Research lowered their target price on Freeport-McMoRan from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, January 27th. Exane BNP Paribas lowered Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $50.00 target price for the company. in a report on Tuesday, April 5th. Barclays boosted their price objective on Freeport-McMoRan from $28.00 to $29.00 in a research report on Thursday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Freeport-McMoRan from $50.00 to $47.00 and set a “hold” rating for the company in a research report on Friday, April 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Freeport-McMoRan presently has an average rating of “Hold” and a consensus target price of $46.57.

Freeport-McMoRan Company Profile (Get Rating)

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino 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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