Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC raised its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,656,836 shares of the natural resource company's stock after acquiring an additional 976,592 shares during the quarter. Freeport-McMoRan makes up 1.2% of Fisher Asset Management LLC's portfolio, making the stock its 16th biggest holding. Fisher Asset Management LLC owned 3.88% of Freeport-McMoRan worth $2,369,312,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FCX. Bruce G. Allen Investments LLC bought a new position in Freeport-McMoRan in the fourth quarter valued at about $27,000. Jones Financial Companies Lllp increased its position in Freeport-McMoRan by 422.2% in the fourth quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company's stock worth $28,000 after buying an additional 532 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in Freeport-McMoRan in the fourth quarter worth about $32,000. EdgeRock Capital LLC purchased a new stake in Freeport-McMoRan in the fourth quarter worth about $35,000. Finally, Webster Bank N. A. increased its position in 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 worth $36,000 after buying an additional 841 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Performance

FCX traded down $0.84 on Monday, reaching $47.27. 11,359,666 shares of the stock were exchanged, compared to its average volume of 14,284,742. The firm has a market capitalization of $67.90 billion, a PE ratio of 41.83, a PEG ratio of 2.10 and a beta of 1.96. The company's 50-day moving average price is $50.84 and its 200 day moving average price is $44.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.41. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $6.32 billion during the quarter, compared to analysts' expectations of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The company's revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.71 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company 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 1.27%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 26.55%.

Insiders Place Their Bets

In other news, CEO Richard C. Adkerson sold 169,229 shares of the company's stock in a transaction that occurred on Tuesday, April 30th. The stock was 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 directly owns 3,707,249 shares in the company, valued at $187,438,509.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Freeport-McMoRan news, CEO Richard C. Adkerson sold 169,229 shares of the company's stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $50.56, for a total transaction of $8,556,218.24. Following the transaction, the chief executive officer now directly owns 3,707,249 shares in the company, valued at $187,438,509.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Stephen T. Higgins sold 42,767 shares of the company's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $50.35, for a total value of $2,153,318.45. Following the transaction, the chief accounting officer now owns 104,377 shares in the company, valued at $5,255,381.95. The disclosure for this sale can be found here. In 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 a number of analyst reports. Bank of America upgraded Freeport-McMoRan from a "neutral" rating to a "buy" rating and set a $59.00 price target for the company in a research report on Tuesday, April 9th. JPMorgan Chase & Co. cut their target price on Freeport-McMoRan from $52.00 to $51.00 and set a "neutral" rating for the company in a research report on Wednesday, April 24th. Raymond James increased their target price on Freeport-McMoRan from $49.50 to $54.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 24th. UBS Group increased their target price on Freeport-McMoRan from $41.00 to $54.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 14th. Finally, Bernstein Bank increased their target price on Freeport-McMoRan from $52.00 to $52.50 and gave the stock an "overweight" rating in a research report on Tuesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Freeport-McMoRan has an average rating of "Moderate Buy" and a consensus price target of $51.47.

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.