Menora Mivtachim Holdings LTD. Invests $392,000 in Freeport-McMoRan Inc. $FCX

Menora Mivtachim Holdings LTD. acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,000 shares of the natural resource company’s stock, valued at approximately $392,000.

Other institutional investors have also recently bought and sold shares of the company. Portside Wealth Group LLC grew its stake in Freeport-McMoRan by 0.8% in the second quarter. Portside Wealth Group LLC now owns 30,333 shares of the natural resource company’s stock valued at $1,315,000 after purchasing an additional 245 shares in the last quarter. Hollencrest Capital Management raised its stake in shares of Freeport-McMoRan by 0.6% during the 2nd quarter. Hollencrest Capital Management now owns 45,133 shares of the natural resource company’s stock worth $1,957,000 after purchasing an additional 250 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Freeport-McMoRan by 0.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 45,095 shares of the natural resource company’s stock worth $1,769,000 after purchasing an additional 250 shares in the last quarter. Waterloo Capital L.P. lifted its holdings in shares of Freeport-McMoRan by 3.9% during the 2nd quarter. Waterloo Capital L.P. now owns 6,658 shares of the natural resource company’s stock valued at $289,000 after buying an additional 251 shares during the last quarter. Finally, Mengis Capital Management Inc. lifted its holdings in shares of Freeport-McMoRan by 0.7% during the 3rd quarter. Mengis Capital Management Inc. now owns 34,404 shares of the natural resource company’s stock valued at $1,349,000 after buying an additional 251 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Insider Transactions at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 11,000 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $62.03, for a total transaction of $682,330.00. Following the completion of the transaction, the chief accounting officer owned 40,773 shares of the company’s stock, valued at $2,529,149.19. The trade was a 21.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard C. Adkerson sold 248,031 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $62.80, for a total transaction of $15,576,346.80. Following the transaction, the chairman directly owned 3,509,119 shares of the company’s stock, valued at approximately $220,372,673.20. This represents a 6.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 565,145 shares of company stock worth $35,839,918. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freeport-McMoRan in a research note on Wednesday, November 26th. Freedom Capital raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Bank of America increased their price target on shares of Freeport-McMoRan from $68.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, BMO Capital Markets raised their price target on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.59.

Freeport-McMoRan Stock Down 3.9%

Shares of Freeport-McMoRan stock opened at $59.15 on Friday. The stock has a market capitalization of $85.02 billion, a P/E ratio of 39.18, a PEG ratio of 0.72 and a beta of 1.41. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average price of $61.58 and a two-hundred day moving average price of $49.81. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $69.75.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The company had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter last year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Thursday, January 15th were paid a $0.075 dividend. The ex-dividend date was Thursday, January 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 19.87%.

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.