14,426 Freeport-McMoRan Inc. $FCX Shares Bought by Eleva Capital SAS

Eleva Capital SAS grew its position in Freeport-McMoRan Inc. (NYSE:FCX) by 638.9% during the 3rd quarter, Holdings Channel reports. The firm owned 16,684 shares of the natural resource company’s stock after purchasing an additional 14,426 shares during the quarter. Freeport-McMoRan makes up about 1.0% of Eleva Capital SAS’s investment portfolio, making the stock its 19th biggest position. Eleva Capital SAS’s holdings in Freeport-McMoRan were worth $1,168,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. State Street Corp increased its position in shares of Freeport-McMoRan by 3.6% during the 2nd quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock worth $4,181,268,000 after purchasing an additional 2,300,416 shares in the last quarter. Bank of America Corp DE boosted its position in Freeport-McMoRan by 20.0% in the first quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock valued at $2,489,069,000 after buying an additional 7,044,775 shares in the last quarter. Franklin Resources Inc. grew its stake in Freeport-McMoRan by 31.2% during the fourth quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock worth $1,897,202,000 after buying an additional 8,891,743 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Freeport-McMoRan by 98.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company’s stock worth $1,014,434,000 after buying an additional 9,924,573 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Freeport-McMoRan by 28.9% during the fourth quarter. Victory Capital Management Inc. now owns 17,366,596 shares of the natural resource company’s stock worth $882,050,000 after buying an additional 3,894,872 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 0.3%

NYSE:FCX traded up $0.24 during trading hours on Tuesday, hitting $72.84. 4,432,220 shares of the stock were exchanged, compared to its average volume of 16,320,393. The company’s 50 day moving average is $70.95 and its two-hundred day moving average is $65.66. Freeport-McMoRan Inc. has a twelve month low of $38.54 and a twelve month high of $80.24. The company has a quick ratio of 0.92, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $104.60 billion, a P/E ratio of 35.88, a price-to-earnings-growth ratio of 0.71 and a beta of 1.39.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.62 by $0.12. The company had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 2.82 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be given a $0.0750 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 14.78%.

Insider Transactions at Freeport-McMoRan

In other news, EVP Douglas N. Currault II sold 80,000 shares of Freeport-McMoRan stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the completion of the sale, the executive vice president owned 211,016 shares in the company, valued at $16,577,416.96. The trade was a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lydia H. Kennard sold 3,798 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $79.11, for a total transaction of $300,459.78. Following the sale, the director directly owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. This trade represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 110,398 shares of company stock valued at $8,387,271. 0.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FCX. BMO Capital Markets lifted their target price on shares of Freeport-McMoRan from $78.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, September 29th. Stifel Nicolaus increased their price target on Freeport-McMoRan from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada lifted their price objective on Freeport-McMoRan from $73.00 to $85.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 16th. Weiss Ratings raised Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 31st. Finally, Bank of America increased their target price on Freeport-McMoRan from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average target price of $74.67.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc (NYSE: FCX) is a leading international mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.