Compagnie Lombard Odier SCmA Has $4.84 Million Holdings in Freeport-McMoRan Inc. $FCX

Compagnie Lombard Odier SCmA grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 22.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,352 shares of the natural resource company’s stock after acquiring an additional 17,600 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Freeport-McMoRan were worth $4,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Freeport-McMoRan by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 128,760,188 shares of the natural resource company’s stock valued at $5,049,975,000 after purchasing an additional 1,776,241 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Freeport-McMoRan by 1.4% in the third quarter. Fisher Asset Management LLC now owns 63,258,414 shares of the natural resource company’s stock valued at $2,480,995,000 after buying an additional 899,699 shares in the last quarter. State Street Corp grew its holdings in shares of Freeport-McMoRan by 1.1% during the third quarter. State Street Corp now owns 62,477,910 shares of the natural resource company’s stock valued at $2,450,384,000 after buying an additional 690,736 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Freeport-McMoRan by 190.9% during the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after buying an additional 23,950,557 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Freeport-McMoRan by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 21,671,223 shares of the natural resource company’s stock worth $849,945,000 after acquiring an additional 435,963 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Up 4.2%

Shares of NYSE:FCX opened at $61.25 on Thursday. The company has a market capitalization of $88.03 billion, a PE ratio of 40.57, a price-to-earnings-growth ratio of 0.69 and a beta of 1.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05. The business has a fifty day moving average price of $61.25 and a two-hundred day moving average price of $50.96. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $69.75.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.19. The firm had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.42 billion. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The business’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.31 EPS. Analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be given a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s payout ratio is currently 19.87%.

Insider Transactions at Freeport-McMoRan

In other Freeport-McMoRan news, EVP Douglas N. Currault II sold 75,000 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $64.52, for a total value of $4,839,000.00. Following the transaction, the executive vice president directly owned 219,181 shares in the company, valued at $14,141,558.12. The trade was a 25.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ellie L. Mikes sold 11,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $62.03, for a total transaction of $682,330.00. Following the transaction, the chief accounting officer directly owned 40,773 shares of the company’s stock, valued at $2,529,149.19. This represents a 21.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 565,145 shares of company stock valued at $35,839,918. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FCX. JPMorgan Chase & Co. raised their price target on shares of Freeport-McMoRan from $58.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $53.50 to $54.00 in a report on Friday, January 23rd. BNP Paribas Exane increased their price objective on Freeport-McMoRan from $56.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Citigroup raised their target price on Freeport-McMoRan from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Argus raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.40.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.