Osaic Holdings Inc. Purchases 34,049 Shares of Freeport-McMoRan Inc. $FCX

Osaic Holdings Inc. boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 11.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 330,096 shares of the natural resource company’s stock after purchasing an additional 34,049 shares during the quarter. Osaic Holdings Inc.’s holdings in Freeport-McMoRan were worth $14,292,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of FCX. Orion Porfolio Solutions LLC increased its stake in shares of Freeport-McMoRan by 9.3% during the second quarter. Orion Porfolio Solutions LLC now owns 53,698 shares of the natural resource company’s stock valued at $2,328,000 after buying an additional 4,547 shares during the period. Thrivent Financial for Lutherans lifted its stake in Freeport-McMoRan by 30.7% in the second quarter. Thrivent Financial for Lutherans now owns 115,951 shares of the natural resource company’s stock worth $5,026,000 after acquiring an additional 27,228 shares during the period. MASTERINVEST Kapitalanlage GmbH bought a new position in Freeport-McMoRan during the 2nd quarter worth about $211,000. Cim Investment Management Inc. increased its position in Freeport-McMoRan by 99.6% during the 2nd quarter. Cim Investment Management Inc. now owns 81,076 shares of the natural resource company’s stock valued at $3,300,000 after purchasing an additional 40,465 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Freeport-McMoRan in the 2nd quarter valued at about $779,000. 80.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FCX shares. Hsbc Global Res raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 16th. BMO Capital Markets upped their target price on Freeport-McMoRan from $47.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday. Dbs Bank dropped their target price on Freeport-McMoRan from $51.00 to $48.00 in a research report on Thursday, October 2nd. Clarkson Capital upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Wednesday, November 19th. Finally, BNP Paribas Exane reduced their price target on Freeport-McMoRan from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, December 5th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $49.11.

Insider Transactions at Freeport-McMoRan

In other news, CAO Stephen T. Higgins sold 28,423 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $47.99, for a total transaction of $1,364,019.77. Following the sale, the chief accounting officer owned 105,294 shares in the company, valued at approximately $5,053,059.06. The trade was a 21.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ellie L. Mikes sold 9,572 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $47.66, for a total transaction of $456,201.52. Following the completion of the transaction, the chief accounting officer directly owned 38,761 shares of the company’s stock, valued at $1,847,349.26. The trade was a 19.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is currently owned by insiders.

Freeport-McMoRan Price Performance

NYSE FCX opened at $47.97 on Friday. The firm’s fifty day simple moving average is $42.39 and its two-hundred day simple moving average is $42.68. The firm has a market capitalization of $68.88 billion, a P/E ratio of 33.78, a P/E/G ratio of 1.08 and a beta of 1.49. The company has a current ratio of 2.45, a quick ratio of 1.19 and a debt-to-equity ratio of 0.29. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $49.12.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The firm had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter last year, the firm earned $0.38 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, January 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 21.13%.

Freeport-McMoRan 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.