Victory Capital Management Inc. Has $25.62 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Victory Capital Management Inc. trimmed its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 601,751 shares of the natural resource company’s stock after selling 9,902 shares during the quarter. Victory Capital Management Inc.’s holdings in Freeport-McMoRan were worth $25,617,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FCX. Capital Wealth Planning LLC bought a new stake in Freeport-McMoRan during the 3rd quarter worth approximately $160,160,000. Mizuho Markets Americas LLC bought a new stake in Freeport-McMoRan during the 3rd quarter worth approximately $141,407,000. Alphinity Investment Management Pty Ltd grew its holdings 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 worth $201,039,000 after acquiring an additional 1,965,987 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in Freeport-McMoRan during the 4th quarter worth approximately $66,993,000. Finally, Penserra Capital Management LLC grew its holdings in Freeport-McMoRan by 16,058.7% during the 3rd quarter. Penserra Capital Management LLC now owns 1,500,338 shares of the natural resource company’s stock worth $55,947,000 after acquiring an additional 1,491,053 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Stock Performance

FCX opened at $49.96 on Thursday. 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 fifty day moving average price is $46.63 and its two-hundred day moving average price is $41.20. Freeport-McMoRan Inc. has a 1-year low of $32.83 and a 1-year high of $52.52. The company has a market cap of $71.66 billion, a price-to-earnings ratio of 44.21, a PEG ratio of 8.19 and a beta of 2.02.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $5.70 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. On average, analysts expect that Freeport-McMoRan Inc. will post 1.66 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

Insider Buying and Selling

In other Freeport-McMoRan news, CEO Richard C. Adkerson sold 169,229 shares of the 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 in the company, valued at $187,438,509.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Freeport-McMoRan news, CEO Richard C. Adkerson sold 54,771 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $50.78, for a total transaction of $2,781,271.38. Following the completion of the transaction, the chief executive officer now owns 3,652,478 shares in the company, valued at $185,472,832.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard C. Adkerson sold 169,229 shares of the firm’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 365,667 shares of company stock worth $18,592,670. Insiders own 0.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FCX shares. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their price objective on shares of 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 upped their price objective 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. Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Tuesday, April 9th. Finally, Argus upped 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. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.07.

About Freeport-McMoRan

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.