Freeport-McMoRan Inc. $FCX Holdings Raised by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA increased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 29.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 93,334 shares of the natural resource company’s stock after buying an additional 21,182 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Freeport-McMoRan were worth $5,486,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FCX. Sterling Capital Management LLC increased its stake in Freeport-McMoRan by 272.3% during the 1st quarter. Sterling Capital Management LLC now owns 10,366 shares of the natural resource company’s stock valued at $609,000 after buying an additional 7,582 shares during the period. Cambient Family Office LLC raised its position in shares of Freeport-McMoRan by 25.0% during the 1st quarter. Cambient Family Office LLC now owns 5,038 shares of the natural resource company’s stock worth $296,000 after buying an additional 1,007 shares in the last quarter. Maridea Wealth Management LLC acquired a new stake in shares of Freeport-McMoRan in the 1st quarter worth approximately $921,000. Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Freeport-McMoRan by 10.6% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 12,895 shares of the natural resource company’s stock worth $758,000 after acquiring an additional 1,232 shares during the period. Finally, Welch Group LLC acquired a new stake in shares of Freeport-McMoRan in the 1st quarter worth approximately $215,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 0.8%

NYSE FCX opened at $62.31 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. The company’s 50 day simple moving average is $64.61 and its 200 day simple moving average is $60.71. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.28. The company has a market capitalization of $89.57 billion, a P/E ratio of 33.14, a PEG ratio of 0.75 and a beta of 1.35.

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

Freeport-McMoRan Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings upgraded Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Sanford C. Bernstein increased their price target on Freeport-McMoRan from $53.50 to $58.50 and gave the company a “market perform” rating in a research note on Wednesday, June 10th. CICC Research lowered their price target on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. Finally, BNP Paribas Exane upped their price objective on Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus price target of $68.27.

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.