UBS Asset Management Americas Inc. Raises Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

UBS Asset Management Americas Inc. boosted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 17.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,222,698 shares of the natural resource company’s stock after acquiring an additional 758,943 shares during the quarter. UBS Asset Management Americas Inc. owned 0.36% of Freeport-McMoRan worth $135,895,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FCX. Truist Financial Corp increased its stake in Freeport-McMoRan by 135.9% in the third quarter. Truist Financial Corp now owns 223,970 shares of the natural resource company’s stock worth $3,503,000 after purchasing an additional 129,031 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Freeport-McMoRan by 2.2% in the third quarter. Nuveen Asset Management LLC now owns 11,409,068 shares of the natural resource company’s stock worth $178,437,000 after purchasing an additional 245,620 shares during the last quarter. State of Tennessee Treasury Department increased its stake in Freeport-McMoRan by 41.1% in the 3rd quarter. State of Tennessee Treasury Department now owns 686,409 shares of the natural resource company’s stock worth $10,735,000 after buying an additional 199,924 shares during the period. First City Capital Management Inc. bought a new stake in Freeport-McMoRan during the 3rd quarter valued at about $366,000. Finally, AQR Capital Management LLC boosted its position in Freeport-McMoRan by 313.9% in the 3rd quarter. AQR Capital Management LLC now owns 124,715 shares of the natural resource company’s stock valued at $1,951,000 after buying an additional 94,584 shares during the period. 72.30% of the stock is currently owned by institutional investors.

In related news, VP C Donald Whitmire, Jr. sold 5,000 shares of Freeport-McMoRan stock in a transaction on Friday, February 19th. The shares were sold at an average price of $35.10, for a total value of $175,500.00. Following the sale, the vice president now owns 67,837 shares of the company’s stock, valued at approximately $2,381,078.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C Donald Whitmire, Jr. sold 48,240 shares of the business’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $30.84, for a total transaction of $1,487,721.60. Following the completion of the sale, the vice president now directly owns 85,492 shares of the company’s stock, valued at approximately $2,636,573.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,128,794 shares of company stock valued at $74,168,434. 1.00% of the stock is owned by company insiders.

Several analysts have recently weighed in on FCX shares. Raymond James raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $36.00 to $41.00 in a research note on Tuesday. TheStreet upgraded Freeport-McMoRan from a “c” rating to a “b-” rating in a report on Tuesday, January 26th. B. Riley increased their target price on Freeport-McMoRan from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, February 23rd. Citigroup raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Tuesday, February 16th. Finally, Johnson Rice assumed coverage on Freeport-McMoRan in a research note on Wednesday, December 16th. They set a “buy” rating on the stock. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Freeport-McMoRan currently has an average rating of “Buy” and a consensus price target of $24.38.

NYSE:FCX opened at $33.98 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.61 and a quick ratio of 1.35. The company has a 50 day moving average price of $34.81 and a 200-day moving average price of $26.15. Freeport-McMoRan Inc. has a 1-year low of $7.30 and a 1-year high of $39.10. The firm has a market cap of $49.56 billion, a price-to-earnings ratio of -377.51 and a beta of 2.27.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Monday, January 25th. The natural resource company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.33 billion. Freeport-McMoRan had a negative net margin of 0.73% and a positive return on equity of 1.56%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business earned $0.02 earnings per share. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 0.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Thursday, April 15th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, April 14th. This is a boost from Freeport-McMoRan’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.88%.

Freeport-McMoRan Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

Featured Article: Do investors pay a separate front-end load every time they buy additional shares?

Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.