Quintet Private Bank Europe S.A. Has $317,000 Position in Freeport-McMoRan Inc. (NYSE:FCX)

Quintet Private Bank Europe S.A. lowered its position in Freeport-McMoRan Inc. (NYSE:FCX) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,450 shares of the natural resource company’s stock after selling 500 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Freeport-McMoRan were worth $317,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new position in Freeport-McMoRan in the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp boosted its position in Freeport-McMoRan by 422.2% during the fourth quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 532 shares during the period. Vermillion & White Wealth Management Group LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth approximately $32,000. Webster Bank N. A. boosted its position in Freeport-McMoRan by 6,469.2% during the fourth quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock worth $36,000 after purchasing an additional 841 shares during the period. Finally, EdgeRock Capital LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Insiders Place Their Bets

In other Freeport-McMoRan news, VP Douglas N. Currault II sold 55,000 shares of the 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 completion of the transaction, the vice president now directly owns 164,067 shares in the company, valued at $8,529,843.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value of $2,859,450.00. Following the completion of the sale, the vice president now directly owns 164,067 shares in the company, valued at $8,529,843.33. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard C. Adkerson sold 169,229 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $50.56, for a total value of $8,556,218.24. Following the completion of the sale, the chief executive officer now owns 3,707,249 shares of the company’s stock, valued at $187,438,509.44. The disclosure for this sale can be found here. Insiders sold 445,667 shares of company stock worth $22,755,070 over the last three months. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of recent analyst reports. Scotiabank upped their target price on Freeport-McMoRan from $53.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 30th. Argus upped their target price on Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Bernstein Bank increased their price objective on Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Finally, Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.47.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX traded up $0.12 during trading hours on Friday, reaching $48.11. The stock had a trading volume of 8,370,169 shares, compared to its average volume of 14,085,875. The business’s fifty day moving average is $50.84 and its two-hundred day moving average is $44.33. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.41. The company has a market cap of $69.01 billion, a price-to-earnings ratio of 42.58, a PEG ratio of 2.10 and a beta of 1.96. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The firm had revenue of $6.32 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the company posted $0.52 earnings per share. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, research analysts expect that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, April 12th. This represents a $0.60 annualized dividend and a yield of 1.25%. Freeport-McMoRan’s dividend payout ratio is currently 26.55%.

Freeport-McMoRan Company 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.