Westside Investment Management Inc. Has $275,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Westside Investment Management Inc. boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 20.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 5,835 shares of the natural resource company’s stock after buying an additional 1,001 shares during the quarter. Westside Investment Management Inc.’s holdings in Freeport-McMoRan were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of FCX. Boston Partners raised its stake in Freeport-McMoRan by 13,248.4% during the 4th quarter. Boston Partners now owns 5,351,630 shares of the natural resource company’s stock valued at $227,747,000 after purchasing an additional 5,311,538 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Freeport-McMoRan during the 4th quarter valued at $66,993,000. TD Asset Management Inc increased its holdings in Freeport-McMoRan by 35.0% in the 4th quarter. TD Asset Management Inc now owns 5,777,840 shares of the natural resource company’s stock valued at $245,963,000 after buying an additional 1,498,259 shares during the period. Penserra Capital Management LLC increased its holdings in Freeport-McMoRan by 16,058.7% in the 3rd quarter. Penserra Capital Management LLC now owns 1,500,338 shares of the natural resource company’s stock valued at $55,947,000 after buying an additional 1,491,053 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Freeport-McMoRan by 4,857.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,324,452 shares of the natural resource company’s stock valued at $56,382,000 after buying an additional 1,297,737 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Up 4.0 %

Shares of NYSE:FCX opened at $50.64 on Thursday. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $55.24. The company’s 50-day moving average price is $50.63 and its two-hundred day moving average price is $45.30. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.31. The firm has a market cap of $72.74 billion, a P/E ratio of 44.81, a P/E/G ratio of 2.00 and a beta of 1.92.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue was up 17.3% on a year-over-year basis. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 1.74 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Monday, July 15th. Freeport-McMoRan’s dividend payout ratio is currently 26.55%.

Insiders Place Their Bets

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 42,767 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $50.35, for a total transaction of $2,153,318.45. Following the transaction, the chief accounting officer now directly owns 104,377 shares in the company, valued at approximately $5,255,381.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 80,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $52.03, for a total transaction of $4,162,400.00. Following the transaction, the chief accounting officer now directly owns 104,377 shares in the company, valued at approximately $5,430,735.31. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Stephen T. Higgins sold 42,767 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $50.35, for a total transaction of $2,153,318.45. Following the transaction, the chief accounting officer now owns 104,377 shares in the company, valued at $5,255,381.95. The disclosure for this sale can be found here. Insiders have sold a total of 445,667 shares of company stock valued at $22,755,070 in the last 90 days. 0.79% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FCX shares. BNP Paribas raised shares of Freeport-McMoRan to a “strong-buy” rating in a report on Friday, June 21st. Morgan Stanley raised shares of Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $49.50 to $62.00 in a report on Friday, June 21st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Freeport-McMoRan from $48.00 to $51.00 and gave the company a “hold” rating in a report on Monday, June 10th. Raymond James boosted their price target on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.93.

About Freeport-McMoRan

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