Asset Management One Co. Ltd. Has $24.10 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Asset Management One Co. Ltd. grew its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 636,595 shares of the natural resource company’s stock after buying an additional 38,838 shares during the period. Asset Management One Co. Ltd.’s holdings in Freeport-McMoRan were worth $24,101,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FCX. Mizuho Bank Ltd. acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at about $26,000. Vision Financial Markets LLC bought a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC boosted its position in shares of Freeport-McMoRan by 47.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company’s stock valued at $32,000 after purchasing an additional 268 shares in the last quarter. Finally, City Holding Co. bought a new stake in shares of Freeport-McMoRan during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 0.9%

FCX stock opened at $41.64 on Thursday. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $52.61. The company has a quick ratio of 1.13, a current ratio of 2.32 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $38.77 and its 200-day moving average is $38.17. The firm has a market capitalization of $59.84 billion, a PE ratio of 34.41, a P/E/G ratio of 0.82 and a beta of 1.64.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.03% and a net margin of 7.11%. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter last year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.44%. Freeport-McMoRan’s dividend payout ratio is presently 24.79%.

Wall Street Analyst Weigh In

FCX has been the topic of several research analyst reports. Jefferies Financial Group restated a “buy” rating and set a $50.00 target price (up previously from $48.00) on shares of Freeport-McMoRan in a research report on Friday, April 25th. Wolfe Research upgraded Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a research report on Wednesday, April 16th. Wall Street Zen lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Scotiabank upgraded Freeport-McMoRan from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $43.00 to $48.00 in a research report on Monday, June 16th. Finally, Raymond James Financial restated an “outperform” rating and set a $52.00 target price on shares of Freeport-McMoRan in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.27.

Insider Activity

In other news, CAO Ellie L. Mikes sold 8,584 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $40.02, for a total value of $343,531.68. Following the transaction, the chief accounting officer now owns 48,333 shares in the company, valued at $1,934,286.66. This trade represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

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.