Cullen Frost Bankers Inc. bought a new position in shares of Freeport-McMoRan Inc (NYSE:FCX) during the first quarter, Holdings Channel reports. The fund bought 7,207 shares of the natural resource company’s stock, valued at approximately $93,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc increased its position in shares of Freeport-McMoRan by 3.6% during the third quarter. Vanguard Group Inc now owns 154,818,850 shares of the natural resource company’s stock worth $2,155,078,000 after purchasing an additional 5,375,340 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Freeport-McMoRan by 0.4% during the fourth quarter. Fisher Asset Management LLC now owns 32,378,452 shares of the natural resource company’s stock worth $333,822,000 after purchasing an additional 121,884 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Freeport-McMoRan by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 21,269,503 shares of the natural resource company’s stock worth $218,954,000 after purchasing an additional 959,745 shares in the last quarter. Northern Trust Corp increased its position in shares of Freeport-McMoRan by 5.6% during the fourth quarter. Northern Trust Corp now owns 20,550,366 shares of the natural resource company’s stock worth $211,875,000 after purchasing an additional 1,096,013 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Freeport-McMoRan by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,149,506 shares of the natural resource company’s stock valued at $156,232,000 after acquiring an additional 1,145,747 shares during the period. Institutional investors and hedge funds own 71.11% of the company’s stock.

NYSE FCX opened at $11.72 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.77. Freeport-McMoRan Inc has a 12-month low of $9.60 and a 12-month high of $18.38. The company has a market cap of $17.32 billion, a price-to-earnings ratio of 10.96 and a beta of 2.21.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, April 25th. The natural resource company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). Freeport-McMoRan had a return on equity of 10.31% and a net margin of 9.09%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s revenue for the quarter was down 22.1% on a year-over-year basis. As a group, equities research analysts forecast that Freeport-McMoRan Inc will post 0.46 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, April 12th. Freeport-McMoRan’s payout ratio is 13.16%.

In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 7,425 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $11.58, for a total transaction of $85,981.50. Following the transaction, the vice president now owns 67,974 shares in the company, valued at approximately $787,138.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company’s stock.

Several equities analysts recently issued reports on the company. BMO Capital Markets set a $14.00 price target on Freeport-McMoRan and gave the company a “hold” rating in a research report on Friday, April 26th. Zacks Investment Research upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Monday, April 8th. Raymond James restated a “market perform” rating and issued a $14.00 price target on shares of Freeport-McMoRan in a research report on Friday, April 26th. Barclays boosted their price target on Freeport-McMoRan from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Tuesday, April 9th. Finally, Morgan Stanley cut Freeport-McMoRan from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 13th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $15.01.

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Freeport-McMoRan Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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