GSA Capital Partners LLP Purchases 16,207 Shares of Freeport-McMoRan Inc. $FCX

GSA Capital Partners LLP lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 159.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,376 shares of the natural resource company’s stock after acquiring an additional 16,207 shares during the quarter. GSA Capital Partners LLP’s holdings in Freeport-McMoRan were worth $1,340,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Freeport-McMoRan by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 130,332,957 shares of the natural resource company’s stock worth $6,619,611,000 after acquiring an additional 1,572,769 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Freeport-McMoRan by 1.4% in the 3rd quarter. Fisher Asset Management LLC now owns 63,258,414 shares of the natural resource company’s stock worth $2,480,995,000 after acquiring an additional 899,699 shares during the last quarter. State Street Corp lifted its holdings in shares of Freeport-McMoRan by 1.1% in the 3rd quarter. State Street Corp now owns 62,477,910 shares of the natural resource company’s stock worth $2,450,384,000 after acquiring an additional 690,736 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Freeport-McMoRan by 190.9% in the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after acquiring an additional 23,950,557 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Freeport-McMoRan by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 21,671,223 shares of the natural resource company’s stock valued at $849,945,000 after buying an additional 435,963 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 3.7%

NYSE:FCX opened at $60.88 on Thursday. Freeport-McMoRan Inc. has a one year low of $35.15 and a one year high of $70.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. The firm has a market cap of $87.52 billion, a P/E ratio of 32.38, a P/E/G ratio of 0.71 and a beta of 1.32. The firm has a 50-day simple moving average of $61.41 and a 200-day simple moving average of $56.17.

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

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, April 15th. Freeport-McMoRan’s payout ratio is 15.96%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FCX. Scotiabank decreased their price objective on shares of Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, April 24th. Raymond James Financial decreased their price objective on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, April 24th. The Goldman Sachs Group decreased their price objective on shares of Freeport-McMoRan from $70.00 to $68.00 and set a “buy” rating for the company in a report on Friday, April 24th. JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freeport-McMoRan in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.14.

Insider Activity at Freeport-McMoRan

In related news, CAO Stephen T. Higgins sold 29,654 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $63.00, for a total transaction of $1,868,202.00. Following the completion of the transaction, the chief accounting officer owned 76,445 shares in the company, valued at $4,816,035. The trade was a 27.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.75% of the stock is currently owned by company insiders.

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.