Freeport-McMoRan Inc. $FCX Shares Acquired by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA boosted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 29.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Steph & Co. grew its position in shares of Freeport-McMoRan by 43.7% in the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 150 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Freeport-McMoRan during the 4th quarter valued at approximately $25,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Freeport-McMoRan during the 4th quarter valued at approximately $29,000. SHP Wealth Management bought a new position in Freeport-McMoRan during the fourth quarter worth $30,000. Finally, MV Capital Management Inc. bought a new position in Freeport-McMoRan during the fourth quarter worth $34,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

NYSE FCX opened at $62.31 on Friday. The company has a 50-day moving average price of $64.61 and a two-hundred day moving average price of $60.71. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $72.28. The stock has a market cap of $89.57 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 0.75 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.

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

Freeport-McMoRan Dividend Announcement

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

Wall Street Analysts Forecast Growth

FCX has been the subject of several recent research reports. Morgan Stanley reiterated an “equal weight” rating and set a $66.00 target price (down from $70.00) on shares of Freeport-McMoRan in a research note on Friday, April 24th. CICC Research decreased their price target on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a report on Tuesday, April 28th. Jefferies Financial Group boosted their price objective on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Citigroup dropped their price objective on shares of Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, The Goldman Sachs Group raised their target price on shares of Freeport-McMoRan from $68.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.27.

About Freeport-McMoRan

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.