Westwood Holdings Group Inc. Acquires 57,200 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Westwood Holdings Group Inc. grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 7.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 843,642 shares of the natural resource company’s stock after acquiring an additional 57,200 shares during the period. Westwood Holdings Group Inc. owned about 0.06% of Freeport-McMoRan worth $35,914,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new position in Freeport-McMoRan during the fourth quarter worth $27,000. Jones Financial Companies Lllp raised its stake in Freeport-McMoRan by 422.2% during the fourth quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock worth $28,000 after buying an additional 532 shares during the last quarter. EdgeRock Capital LLC bought a new position in Freeport-McMoRan during the fourth quarter worth $35,000. Webster Bank N. A. raised its stake in Freeport-McMoRan by 6,469.2% during the fourth quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock worth $36,000 after buying an additional 841 shares during the last quarter. Finally, CVA Family Office LLC bought a new position in Freeport-McMoRan during the fourth quarter worth $38,000. 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 80,000 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 104,377 shares in the company, valued at $5,430,735.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Freeport-McMoRan news, VP Douglas N. Currault II sold 55,000 shares of the business’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 transaction, the vice president now directly owns 164,067 shares in the company, valued at $8,529,843.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Stephen T. Higgins sold 80,000 shares of the business’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 transaction of $4,162,400.00. Following the completion of the sale, the chief accounting officer now directly owns 104,377 shares in the company, valued at approximately $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 three months. 0.79% of the stock is currently owned by insiders.

Freeport-McMoRan Stock Down 3.9 %

Freeport-McMoRan stock traded down $1.98 during midday trading on Friday, hitting $49.27. 16,056,425 shares of the stock were exchanged, compared to its average volume of 14,748,760. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $55.24. The stock has a market capitalization of $70.67 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 2.24 and a beta of 1.96. The business’s 50-day moving average price is $50.83 and its 200-day moving average price is $43.86. 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 (NYSE:FCXGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share 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 for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, research analysts expect that Freeport-McMoRan Inc. will post 1.71 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Friday, April 12th. Freeport-McMoRan’s payout ratio is 26.55%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Freeport-McMoRan from $41.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. decreased their price target on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Tuesday, April 9th. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Finally, 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 report 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.50.

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About Freeport-McMoRan

(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.

See Also

Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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