Groupama Asset Managment Sells 11,514 Shares of Freeport-McMoRan Inc. $FCX

Groupama Asset Managment lowered its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 29.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,848 shares of the natural resource company’s stock after selling 11,514 shares during the quarter. Groupama Asset Managment’s holdings in Freeport-McMoRan were worth $1,637,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in FCX. Arrowstreet Capital Limited Partnership raised its holdings in shares of Freeport-McMoRan by 98.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company’s stock valued at $1,014,434,000 after buying an additional 9,924,573 shares during the last quarter. Franklin Resources Inc. lifted its position in Freeport-McMoRan by 31.2% during the 4th quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock worth $1,897,202,000 after buying an additional 8,891,743 shares in the last quarter. Amundi grew its holdings in Freeport-McMoRan by 102.5% during the 4th quarter. Amundi now owns 14,211,579 shares of the natural resource company’s stock worth $721,806,000 after acquiring an additional 7,192,955 shares during the last quarter. Bank of America Corp DE grew its holdings in Freeport-McMoRan by 20.0% during the 1st quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock worth $2,489,069,000 after acquiring an additional 7,044,775 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Freeport-McMoRan by 101.2% in the 1st quarter. Janus Henderson Group PLC now owns 11,498,267 shares of the natural resource company’s stock valued at $675,896,000 after acquiring an additional 5,784,156 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. HSBC boosted their target price on shares of Freeport-McMoRan from $72.00 to $75.00 in a research note on Friday, June 12th. The Goldman Sachs Group lowered their price target on shares of Freeport-McMoRan from $75.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. JPMorgan Chase & Co. boosted their price objective on shares of Freeport-McMoRan from $73.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. CICC Research reduced their price objective on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a report on Tuesday, April 28th. Finally, UBS Group increased their price objective on Freeport-McMoRan from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average price target of $70.27.

Freeport-McMoRan Trading Down 1.4%

Shares of NYSE FCX opened at $62.53 on Friday. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $72.28. The stock has a market cap of $89.89 billion, a price-to-earnings ratio of 30.80, a P/E/G ratio of 0.63 and a beta of 1.37. The company has a quick ratio of 0.92, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average is $63.69 and its 200-day moving average is $62.56.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. The business had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $6.62 billion. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. Equities research analysts predict that Freeport-McMoRan Inc. will post 2.75 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan’s payout ratio is presently 14.78%.

Freeport-McMoRan Company 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.