Freeport-McMoRan Inc. $FCX Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 101.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,498,267 shares of the natural resource company’s stock after purchasing an additional 5,784,156 shares during the quarter. Janus Henderson Group PLC’s holdings in Freeport-McMoRan were worth $675,896,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of FCX. Pinnacle Bancorp Inc. grew its position in Freeport-McMoRan by 7.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 2,011 shares of the natural resource company’s stock valued at $118,000 after buying an additional 147 shares in the last quarter. Steph & Co. raised its position in shares of Freeport-McMoRan by 43.7% during the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock worth $29,000 after buying an additional 150 shares in the last quarter. Essex Bank raised its position in shares of Freeport-McMoRan by 1.2% during the 1st quarter. Essex Bank now owns 14,104 shares of the natural resource company’s stock worth $829,000 after buying an additional 163 shares in the last quarter. Leo Wealth LLC lifted its stake in shares of Freeport-McMoRan by 2.5% in the 4th quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock worth $347,000 after acquiring an additional 170 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. lifted its stake in shares of Freeport-McMoRan by 0.9% in the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 18,674 shares of the natural resource company’s stock worth $1,098,000 after acquiring an additional 175 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FCX shares. Bank of America increased their price objective on shares of Freeport-McMoRan from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Jefferies Financial Group boosted their target price on Freeport-McMoRan from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Barclays upped their target price on Freeport-McMoRan from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. Finally, Royal Bank Of Canada lifted their price target on Freeport-McMoRan from $70.00 to $73.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.27.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $59.94 on Thursday. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $72.28. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $63.66 and a 200-day moving average of $62.51. The firm has a market cap of $86.16 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 0.62 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.12. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The company had revenue of $7.03 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the company posted $0.54 EPS. The business’s revenue was down 7.3% compared to the same quarter last year. Analysts forecast that Freeport-McMoRan Inc. will post 2.75 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 14.78%.

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.