Inspire Advisors LLC Has $633,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Inspire Advisors LLC grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,469 shares of the natural resource company’s stock after buying an additional 1,392 shares during the quarter. Inspire Advisors LLC’s holdings in Freeport-McMoRan were worth $633,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in FCX. Boston Partners raised its stake in shares of Freeport-McMoRan by 13,248.4% in the 4th quarter. Boston Partners now owns 5,351,630 shares of the natural resource company’s stock valued at $227,747,000 after buying an additional 5,311,538 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Freeport-McMoRan by 302.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,393,264 shares of the natural resource company’s stock worth $112,531,000 after purchasing an additional 1,799,028 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Freeport-McMoRan in the 4th quarter worth about $66,993,000. Bank of New York Mellon Corp grew its holdings in shares of Freeport-McMoRan by 7.9% in the 1st quarter. Bank of New York Mellon Corp now owns 21,157,118 shares of the natural resource company’s stock worth $994,808,000 after purchasing an additional 1,551,828 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Freeport-McMoRan by 35.0% in the 4th quarter. TD Asset Management Inc now owns 5,777,840 shares of the natural resource company’s stock worth $245,963,000 after purchasing an additional 1,498,259 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 1.7 %

Shares of NYSE FCX traded down $0.87 during mid-day trading on Tuesday, hitting $49.55. The company’s stock had a trading volume of 6,235,676 shares, compared to its average volume of 13,633,043. The stock has a market cap of $71.18 billion, a price-to-earnings ratio of 44.62, a price-to-earnings-growth ratio of 1.18 and a beta of 1.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.41. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $55.24. The company’s fifty day simple moving average is $50.76 and its 200-day simple moving average is $45.82.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $6.32 billion for 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%. Freeport-McMoRan’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.67 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.21%. Freeport-McMoRan’s dividend payout ratio is 26.55%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FCX. Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, April 9th. JPMorgan Chase & Co. lowered their target price on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Argus increased their price objective on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, BNP Paribas raised shares of Freeport-McMoRan to a “strong-buy” rating in a report on Friday, June 21st. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.93.

Insider Activity at Freeport-McMoRan

In related news, VP Douglas N. Currault II sold 55,000 shares of the 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 sale, the vice president now directly owns 164,067 shares in the company, valued at approximately $8,529,843.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Freeport-McMoRan news, 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 sale, the chief executive officer now directly owns 3,707,249 shares in the company, valued at approximately $187,438,509.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 stock was sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the sale, the vice president now owns 164,067 shares in the company, valued at $8,529,843.33. The disclosure for this sale can be found here. Insiders have sold 445,667 shares of company stock worth $22,755,070 in the last ninety days. Company insiders own 0.79% of the company’s stock.

Freeport-McMoRan 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.