Northwest Bank & Trust Co Acquires New Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Northwest Bank & Trust Co acquired a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 13,047 shares of the natural resource company’s stock, valued at approximately $555,000.

A number of other hedge funds have also made changes to their positions in FCX. Boston Partners increased its stake in shares of Freeport-McMoRan by 13,248.4% during the fourth quarter. Boston Partners now owns 5,351,630 shares of the natural resource company’s stock valued at $227,747,000 after acquiring an additional 5,311,538 shares during the period. AustralianSuper Pty Ltd bought a new position in shares of Freeport-McMoRan in the fourth quarter valued at $66,993,000. TD Asset Management Inc increased its holdings in shares of Freeport-McMoRan by 35.0% in the fourth quarter. TD Asset Management Inc now owns 5,777,840 shares of the natural resource company’s stock valued at $245,963,000 after buying an additional 1,498,259 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Freeport-McMoRan by 16,058.7% in the third quarter. Penserra Capital Management LLC now owns 1,500,338 shares of the natural resource company’s stock valued at $55,947,000 after buying an additional 1,491,053 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Freeport-McMoRan by 4,857.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,324,452 shares of the natural resource company’s stock valued at $56,382,000 after buying an additional 1,297,737 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analysts Set New Price Targets

FCX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price target on Freeport-McMoRan from $48.00 to $51.00 and gave the company a “hold” rating in a report on Monday, June 10th. Raymond James boosted their target price on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Bernstein Bank boosted their target price on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Finally, UBS Group boosted their target price on shares of Freeport-McMoRan from $41.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.47.

Freeport-McMoRan Stock Up 0.3 %

NYSE:FCX traded up $0.12 during trading hours on Friday, reaching $48.11. The company’s stock had a trading volume of 8,370,169 shares, compared to its average volume of 14,085,875. The company has a market cap of $69.01 billion, a price-to-earnings ratio of 42.58, a price-to-earnings-growth ratio of 2.09 and a beta of 1.96. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $55.24. The business’s 50-day moving average is $50.84 and its 200-day moving average is $44.28. 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 (NYSE:FCX) last issued its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $6.32 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the company posted $0.52 earnings per share. Equities research analysts predict that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is 26.55%.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 43,900 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $51.08, for a total transaction of $2,242,412.00. Following the completion of the sale, the chief accounting officer now directly owns 104,377 shares in the company, valued at $5,331,577.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Stephen T. Higgins sold 43,900 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $51.08, for a total transaction of $2,242,412.00. Following the completion of the transaction, the chief accounting officer now owns 104,377 shares of the company’s stock, valued at $5,331,577.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephen T. Higgins sold 80,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $52.03, for a total transaction of $4,162,400.00. Following the transaction, the chief accounting officer now directly owns 104,377 shares of the company’s stock, valued at approximately $5,430,735.31. The disclosure for this sale can be found here. Insiders sold 445,667 shares of company stock worth $22,755,070 over the last ninety days. Company insiders own 0.79% 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.