Robeco Institutional Asset Management B.V. Reduces Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Robeco Institutional Asset Management B.V. trimmed its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 93.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,115 shares of the natural resource company’s stock after selling 188,028 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Freeport-McMoRan were worth $558,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new stake in shares of Freeport-McMoRan in the 4th quarter worth about $27,000. EdgeRock Capital LLC purchased a new stake in shares of Freeport-McMoRan in the fourth quarter valued at about $35,000. Webster Bank N. A. grew its position in shares of Freeport-McMoRan by 6,469.2% in the fourth quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock valued at $36,000 after purchasing an additional 841 shares during the last quarter. CVA Family Office LLC purchased a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $38,000. Finally, Orion Capital Management LLC acquired a new position in shares of Freeport-McMoRan during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Insider Buying and Selling

In other news, 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 completion of the transaction, the chief accounting officer now owns 104,377 shares in the company, valued at $5,430,735.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Douglas N. Currault II sold 55,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the transaction, the vice president now directly owns 164,067 shares of the company’s stock, valued at $8,529,843.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephen T. Higgins sold 80,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $52.03, for a total transaction of $4,162,400.00. Following the completion of the sale, 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. Over the last three months, insiders sold 445,667 shares of company stock worth $22,755,070. Corporate insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

FCX has been the subject of several recent research reports. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Scotiabank decreased their target price on shares of Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, April 24th. Raymond James lifted their price objective on Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. reduced their target price on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Finally, UBS Group raised their target price on shares of Freeport-McMoRan from $41.00 to $54.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Freeport-McMoRan Trading Down 0.1 %

FCX opened at $51.20 on Friday. The firm has a market capitalization of $73.43 billion, a P/E ratio of 45.31, a P/E/G ratio of 2.71 and a beta of 2.02. The firm’s 50 day moving average is $49.50 and its 200-day moving average is $42.57. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The company had revenue of $6.32 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the company posted $0.52 EPS. Freeport-McMoRan’s quarterly revenue was up 17.3% on a year-over-year basis. Analysts expect that Freeport-McMoRan Inc. will post 1.66 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were given a dividend of $0.15 per share. The ex-dividend date was Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.17%. Freeport-McMoRan’s payout ratio is 26.55%.

About Freeport-McMoRan

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.