Freeport-McMoRan Inc. $FCX Stake Increased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 304,886 shares of the natural resource company’s stock after buying an additional 29,780 shares during the period. Nisa Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $15,485,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Steigerwald Gordon & Koch Inc. purchased a new stake in Freeport-McMoRan in the 3rd quarter worth about $25,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Freeport-McMoRan during the 2nd quarter worth about $28,000. Salomon & Ludwin LLC grew its stake in Freeport-McMoRan by 1,962.9% during the 3rd quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 687 shares in the last quarter. JPL Wealth Management LLC purchased a new position in Freeport-McMoRan during the 3rd quarter valued at about $33,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Freeport-McMoRan in the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

FCX has been the subject of a number of research analyst reports. Argus raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Friday, February 13th. Wall Street Zen downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. JPMorgan Chase & Co. upped their price objective on shares of Freeport-McMoRan from $58.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Citigroup increased their target price on shares of Freeport-McMoRan from $48.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, BMO Capital Markets lifted their target price on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average price target of $62.40.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 11,000 shares of the stock in a transaction 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. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Maree E. Robertson sold 48,500 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.55, for a total transaction of $2,985,175.00. Following the transaction, the chief financial officer directly owned 79,894 shares in the company, valued at $4,917,475.70. The trade was a 37.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 565,145 shares of company stock worth $35,839,918 in the last ninety days. Company insiders own 0.75% of the company’s stock.

Freeport-McMoRan Trading Up 4.2%

Shares of NYSE FCX opened at $61.25 on Thursday. The stock has a market cap of $88.03 billion, a price-to-earnings ratio of 40.57, a PEG ratio of 0.69 and a beta of 1.48. The business has a 50 day simple moving average of $61.25 and a 200 day simple moving average of $50.96. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $69.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.19. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.42 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 earnings per share. On average, research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

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

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.