Freeport-McMoRan Inc. $FCX Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its position in Freeport-McMoRan Inc. (NYSE:FCX) by 43.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,045 shares of the natural resource company’s stock after selling 30,294 shares during the period. Securian Asset Management Inc.’s holdings in Freeport-McMoRan were worth $1,983,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Income Insurance Ltd purchased a new position in Freeport-McMoRan in the 4th quarter worth approximately $215,000. Nwam LLC lifted its stake in Freeport-McMoRan by 80.7% in the 4th quarter. Nwam LLC now owns 74,837 shares of the natural resource company’s stock worth $3,801,000 after purchasing an additional 33,429 shares in the last quarter. Nan Fung Trinity HK Ltd. purchased a new position in Freeport-McMoRan in the 4th quarter worth approximately $17,355,000. Midwest Trust Co lifted its stake in Freeport-McMoRan by 12.4% in the 4th quarter. Midwest Trust Co now owns 11,406 shares of the natural resource company’s stock worth $579,000 after purchasing an additional 1,258 shares in the last quarter. Finally, Bensler LLC lifted its stake in Freeport-McMoRan by 12.6% in the 4th quarter. Bensler LLC now owns 6,481 shares of the natural resource company’s stock worth $329,000 after purchasing an additional 725 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on FCX shares. BMO Capital Markets raised their target price on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Scotiabank decreased their target price on shares of Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Friday, April 24th. Sanford C. Bernstein decreased their target price on shares of Freeport-McMoRan from $54.00 to $53.50 and set a “market perform” rating on the stock in a research note on Friday, April 24th. JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Finally, Wells Fargo & Company decreased their target price on shares of Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.14.

Freeport-McMoRan Price Performance

FCX stock opened at $64.38 on Tuesday. The business has a fifty day moving average of $61.56 and a two-hundred day moving average of $55.09. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The stock has a market cap of $92.52 billion, a price-to-earnings ratio of 34.24, a price-to-earnings-growth ratio of 0.74 and a beta of 1.32. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $70.96.

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

Freeport-McMoRan Dividend Announcement

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

Insider Activity at Freeport-McMoRan

In other Freeport-McMoRan news, CFO Maree E. Robertson sold 48,500 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.55, for a total transaction of $2,985,175.00. Following the completion of the sale, the chief financial officer owned 79,894 shares of the company’s stock, valued at $4,917,475.70. This trade represents a 37.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ellie L. Mikes sold 11,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total value of $682,330.00. Following the sale, the chief accounting officer directly owned 40,773 shares of the company’s stock, valued at approximately $2,529,149.19. This trade represents a 21.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 317,114 shares of company stock valued at $20,263,571 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Freeport-McMoRan Profile

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.