Kentucky Retirement Systems Purchases 822 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Kentucky Retirement Systems boosted its position in Freeport-McMoRan Inc. (NYSE:FCXGet Rating) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,434 shares of the natural resource company’s stock after acquiring an additional 822 shares during the period. Kentucky Retirement Systems’ holdings in Freeport-McMoRan were worth $3,732,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. F M Investments LLC bought a new stake in Freeport-McMoRan in the 4th quarter worth $228,000. Toronto Dominion Bank lifted its position in shares of Freeport-McMoRan by 1.3% in the 4th quarter. Toronto Dominion Bank now owns 1,105,764 shares of the natural resource company’s stock worth $46,142,000 after purchasing an additional 14,712 shares during the period. Congress Wealth Management LLC DE purchased a new stake in shares of Freeport-McMoRan in the 4th quarter worth about $11,223,000. Atria Investments LLC lifted its position in shares of Freeport-McMoRan by 4.9% in the 4th quarter. Atria Investments LLC now owns 70,730 shares of the natural resource company’s stock worth $2,952,000 after purchasing an additional 3,326 shares during the period. Finally, Mizuho Securities Co. Ltd. lifted its position in shares of Freeport-McMoRan by 123.6% in the 4th quarter. Mizuho Securities Co. Ltd. now owns 6,621 shares of the natural resource company’s stock worth $276,000 after purchasing an additional 3,660 shares during the period. 76.05% of the stock is currently owned by institutional investors and hedge funds.

NYSE:FCX traded up $1.34 on Monday, reaching $50.77. 14,242,270 shares of the stock traded hands, compared to its average volume of 18,506,449. The company has a market capitalization of $73.86 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 0.44 and a beta of 2.00. The company has a current ratio of 2.52, a quick ratio of 1.75 and a debt-to-equity ratio of 0.39. Freeport-McMoRan Inc. has a 12 month low of $30.02 and a 12 month high of $51.99. The company’s fifty day simple moving average is $47.13 and its 200 day simple moving average is $41.78.

Freeport-McMoRan (NYSE:FCXGet Rating) last announced its quarterly earnings results on Wednesday, January 26th. The natural resource company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). Freeport-McMoRan had a return on equity of 21.55% and a net margin of 18.85%. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.48 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The business’s revenue was up 37.1% compared to the same quarter last year. Equities analysts anticipate that Freeport-McMoRan Inc. will post 3.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 2nd. Stockholders of record on Thursday, April 14th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, April 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.18%. Freeport-McMoRan’s dividend payout ratio is presently 10.38%.

FCX has been the subject of several research analyst reports. Raymond James raised their target price on shares of Freeport-McMoRan from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 5th. BNP Paribas cut shares of Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $50.00 target price for the company. in a research report on Tuesday, April 5th. Stifel Nicolaus lifted their price target on shares of Freeport-McMoRan from $49.00 to $54.00 in a research report on Thursday, March 17th. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Tuesday, April 5th. Finally, Jefferies Financial Group lifted their price target on shares of Freeport-McMoRan from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, March 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Hold” and a consensus target price of $44.80.

In related news, VP C Donald Whitmire, Jr. sold 44,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $43.44, for a total transaction of $1,911,360.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathleen L. Quirk sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $44.02, for a total transaction of $3,521,600.00. The disclosure for this sale can be found here. Insiders sold 164,670 shares of company stock valued at $7,002,730 over the last quarter. Company insiders own 0.72% of the company’s stock.

Freeport-McMoRan Company Profile (Get Rating)

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.

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

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