Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by TIAA Trust National Association

TIAA Trust National Association lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 13.7% in the 1st quarter, Holdings Channel reports. The fund owned 17,401 shares of the natural resource company’s stock after buying an additional 2,096 shares during the period. TIAA Trust National Association’s holdings in Freeport-McMoRan were worth $818,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Tompkins Financial Corp grew its position in shares of Freeport-McMoRan by 33.8% during the first quarter. Tompkins Financial Corp now owns 791 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 200 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Freeport-McMoRan by 0.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 64,053 shares of the natural resource company’s stock worth $3,012,000 after acquiring an additional 203 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of Freeport-McMoRan by 0.5% during the first quarter. Proficio Capital Partners LLC now owns 40,083 shares of the natural resource company’s stock worth $1,885,000 after acquiring an additional 207 shares during the last quarter. Kingsview Wealth Management LLC grew its position in shares of Freeport-McMoRan by 4.3% during the first quarter. Kingsview Wealth Management LLC now owns 5,243 shares of the natural resource company’s stock worth $247,000 after acquiring an additional 214 shares during the last quarter. Finally, MV Capital Management Inc. grew its position in shares of Freeport-McMoRan by 38.6% during the first quarter. MV Capital Management Inc. now owns 794 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 221 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX traded down $0.02 during trading hours on Friday, hitting $45.90. 9,670,969 shares of the company’s stock traded hands, compared to its average volume of 9,720,332. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $55.24. 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’s fifty day simple moving average is $50.49 and its two-hundred day simple moving average is $45.94. The company has a market cap of $65.93 billion, a price-to-earnings ratio of 40.62, a price-to-earnings-growth ratio of 1.07 and a beta of 1.92.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, beating 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 company had revenue of $6.32 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the firm posted $0.52 EPS. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Monday, July 15th. Freeport-McMoRan’s dividend payout ratio is presently 26.55%.

Analysts Set New Price Targets

Several research firms have recently commented on FCX. HSBC upped their price target on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. BNP Paribas upgraded shares of Freeport-McMoRan to a “strong-buy” rating in a research report on Friday, June 21st. Argus increased their target price on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, UBS Group increased their target price on shares of Freeport-McMoRan from $41.00 to $54.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $52.93.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CEO Richard C. Adkerson sold 169,229 shares of the company’s 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 sale, the chief executive officer now directly owns 3,707,249 shares of the company’s stock, valued at $187,438,509.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 80,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $5,430,735.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard C. Adkerson sold 169,229 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $50.56, for a total transaction of $8,556,218.24. Following the completion of the sale, the chief executive officer now directly 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 ninety days, insiders sold 445,667 shares of company stock valued at $22,755,070. 0.79% of the stock is currently owned by corporate insiders.

Freeport-McMoRan Company Profile

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.