Freeport-McMoRan Inc. $FCX Shares Bought by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 317.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 26,952 shares of the natural resource company’s stock after purchasing an additional 20,496 shares during the period. Banque Cantonale Vaudoise’s holdings in Freeport-McMoRan were worth $1,584,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. KBC Group NV increased its stake in Freeport-McMoRan by 49.0% during the 4th quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock valued at $11,267,000 after purchasing an additional 73,002 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Freeport-McMoRan in the fourth quarter worth $8,857,000. Wellington Management Group LLP lifted its stake in shares of Freeport-McMoRan by 190.9% during the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after buying an additional 23,950,557 shares during the period. Dynamic Technology Lab Private Ltd lifted its stake in shares of Freeport-McMoRan by 426.3% during the third quarter. Dynamic Technology Lab Private Ltd now owns 81,892 shares of the natural resource company’s stock worth $3,212,000 after buying an additional 66,331 shares during the period. Finally, Powszechne Towarzystwo Emerytalne Allianz Polska S.A. grew its holdings in shares of Freeport-McMoRan by 175.4% during the fourth quarter. Powszechne Towarzystwo Emerytalne Allianz Polska S.A. now owns 1,379,760 shares of the natural resource company’s stock valued at $70,078,000 after buying an additional 878,760 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on FCX. CICC Research reduced their price objective on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freeport-McMoRan in a research report on Friday, May 15th. BNP Paribas Exane increased their price target on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. UBS Group raised their price target on shares of Freeport-McMoRan from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, Jefferies Financial Group lifted their price objective on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus target price of $68.27.

Freeport-McMoRan Stock Performance

FCX opened at $62.31 on Friday. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $72.28. The firm has a market capitalization of $89.57 billion, a PE ratio of 33.14, a PEG ratio of 0.76 and a beta of 1.35. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $64.61 and its 200 day moving average price is $60.71.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the company earned $0.24 EPS. As a group, sell-side analysts expect that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan’s payout ratio is presently 15.96%.

Freeport-McMoRan 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.