UniSuper Management Pty Ltd Has $17.46 Million Stake in Freeport-McMoRan Inc. $FCX

UniSuper Management Pty Ltd decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 6.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 461,172 shares of the natural resource company’s stock after selling 31,205 shares during the period. UniSuper Management Pty Ltd’s holdings in Freeport-McMoRan were worth $17,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Stratos Investment Management LLC increased its holdings in shares of Freeport-McMoRan by 238.5% during the first quarter. Stratos Investment Management LLC now owns 64,519 shares of the natural resource company’s stock worth $2,443,000 after buying an additional 45,458 shares in the last quarter. Community Bank N.A. increased its holdings in shares of Freeport-McMoRan by 18.5% during the first quarter. Community Bank N.A. now owns 39,571 shares of the natural resource company’s stock worth $1,498,000 after buying an additional 6,188 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Freeport-McMoRan by 2.2% during the first quarter. Arizona State Retirement System now owns 421,469 shares of the natural resource company’s stock worth $15,957,000 after buying an additional 8,989 shares in the last quarter. Financial Sense Advisors Inc. increased its holdings in shares of Freeport-McMoRan by 527.9% during the first quarter. Financial Sense Advisors Inc. now owns 76,127 shares of the natural resource company’s stock worth $2,882,000 after buying an additional 64,003 shares in the last quarter. Finally, Anderson Hoagland & Co. increased its holdings in shares of Freeport-McMoRan by 27.6% during the first quarter. Anderson Hoagland & Co. now owns 109,565 shares of the natural resource company’s stock worth $4,148,000 after buying an additional 23,695 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Hsbc Global Res lowered shares of Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 22nd. Scotiabank increased their price target on shares of Freeport-McMoRan from $48.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 9th. UBS Group cut shares of Freeport-McMoRan from a “buy” rating to a “neutral” rating and increased their price target for the company from $45.00 to $50.00 in a research note on Friday, July 11th. JPMorgan Chase & Co. increased their price target on shares of Freeport-McMoRan from $42.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Finally, Stifel Canada raised shares of Freeport-McMoRan to a “strong-buy” rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $46.37 on Monday. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $52.61. The stock has a market cap of $66.58 billion, a PE ratio of 35.13, a PEG ratio of 0.88 and a beta of 1.59. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.21 and a current ratio of 2.47. The firm’s 50 day moving average price is $43.64 and its two-hundred day moving average price is $39.87.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The firm had revenue of $7.58 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same period last year, the firm earned $0.46 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.3%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 22.73%.

Freeport-McMoRan 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.