PKO BP BANKOWY Universal Pension Society JSC Purchases Shares of 527,755 Freeport-McMoRan Inc. $FCX

PKO BP BANKOWY Universal Pension Society JSC purchased a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 527,755 shares of the natural resource company’s stock, valued at approximately $26,805,000. Freeport-McMoRan comprises about 13.5% of PKO BP BANKOWY Universal Pension Society JSC’s holdings, making the stock its 3rd biggest position.

Other hedge funds have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Freeport-McMoRan during the fourth quarter valued at about $38,000. JPL Wealth Management LLC purchased a new stake in shares of Freeport-McMoRan during the third quarter valued at about $33,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Freeport-McMoRan during the fourth quarter valued at about $43,000. YANKCOM Partnership lifted its position in shares of Freeport-McMoRan by 83.3% during the fourth quarter. YANKCOM Partnership now owns 869 shares of the natural resource company’s stock valued at $44,000 after buying an additional 395 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in shares of Freeport-McMoRan during the fourth quarter valued at about $45,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 11,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $62.03, for a total value of $682,330.00. Following the completion of the transaction, the chief accounting officer directly owned 40,773 shares of the company’s stock, valued at $2,529,149.19. This trade represents a 21.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Stephen T. Higgins sold 29,654 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was 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 approximately $4,816,035. This trade represents a 27.95% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.79% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $60.51 on Tuesday. The firm has a market capitalization of $86.98 billion, a P/E ratio of 32.18, a PEG ratio of 0.76 and a beta of 1.32. 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 company has a 50 day moving average price of $61.41 and a 200 day moving average price of $55.92. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $70.96.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data 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. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. Freeport-McMoRan’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. Sell-side analysts expect that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Announces Dividend

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

Analysts Set New Price Targets

Several research firms have commented on FCX. Argus raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Friday, February 13th. HSBC increased their price target on shares of Freeport-McMoRan from $69.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Bank of America increased their price target on shares of Freeport-McMoRan from $68.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $66.00 price objective (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday, April 24th. Finally, Stifel Nicolaus increased their price objective on shares of Freeport-McMoRan from $52.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average price target of $65.14.

Freeport-McMoRan Company 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.