Corient Private Wealth LLC Has $5.40 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Corient Private Wealth LLC lowered its holdings in Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 85.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 126,950 shares of the natural resource company’s stock after selling 723,591 shares during the quarter. Corient Private Wealth LLC’s holdings in Freeport-McMoRan were worth $5,404,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of FCX. Boston Partners boosted its stake in Freeport-McMoRan by 13,248.4% in the fourth quarter. Boston Partners now owns 5,351,630 shares of the natural resource company’s stock worth $227,747,000 after purchasing an additional 5,311,538 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of Freeport-McMoRan during the third quarter valued at $141,407,000. Alphinity Investment Management Pty Ltd lifted its stake in shares of Freeport-McMoRan by 57.4% during the third 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 acquiring an additional 1,965,987 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of Freeport-McMoRan during the fourth quarter valued at $66,993,000. Finally, Penserra Capital Management LLC lifted its stake in shares of Freeport-McMoRan by 16,058.7% during the third quarter. Penserra Capital Management LLC now owns 1,500,338 shares of the natural resource company’s stock valued at $55,947,000 after acquiring an additional 1,491,053 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Insider Buying and Selling

In other Freeport-McMoRan news, VP Douglas N. Currault II sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $51.99, for a total value of $2,859,450.00. Following the completion of 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 the SEC website. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 43,900 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $51.08, for a total value of $2,242,412.00. Following the completion of the transaction, the chief accounting officer now directly owns 104,377 shares in the company, valued at $5,331,577.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Douglas N. Currault II sold 55,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now owns 164,067 shares of the company’s stock, valued at $8,529,843.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 445,667 shares of company stock worth $22,755,070. 0.79% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FCX shares. HSBC upped their price target on Freeport-McMoRan from $39.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, April 9th. Scotiabank cut their target price on 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. Bernstein Bank increased their target price on Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Finally, UBS Group increased their target price on Freeport-McMoRan from $41.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Get Our Latest Stock Analysis on FCX

Freeport-McMoRan Stock Up 0.6 %

NYSE:FCX opened at $51.53 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.41 and a current ratio of 2.35. The company has a market cap of $73.92 billion, a PE ratio of 45.60, a PEG ratio of 2.73 and a beta of 2.02. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $55.24. The stock has a 50-day simple moving average of $49.78 and a 200 day simple moving average of $42.94.

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

Freeport-McMoRan Announces Dividend

The company 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 dividend yield of 1.16%. Freeport-McMoRan’s payout ratio is presently 26.55%.

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.

Further Reading

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

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