Freeport-McMoRan Inc. $FCX Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC boosted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 17.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 148,071 shares of the natural resource company’s stock after buying an additional 22,355 shares during the period. Wealthfront Advisers LLC’s holdings in Freeport-McMoRan were worth $7,521,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FCX. Brighton Jones LLC boosted its stake in Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after buying an additional 2,882 shares during the last quarter. Bison Wealth LLC boosted its stake in Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after buying an additional 507 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Freeport-McMoRan in the 2nd quarter worth about $560,000. Brown Advisory Inc. boosted its stake in Freeport-McMoRan by 27.0% in the 2nd quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after buying an additional 2,648 shares during the last quarter. Finally, Jump Financial LLC boosted its stake in Freeport-McMoRan by 42.7% in the 2nd quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock worth $2,172,000 after buying an additional 14,992 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Stephen T. Higgins sold 29,654 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $63.00, for a total value of $1,868,202.00. Following the completion of the sale, the chief accounting officer directly owned 76,445 shares in the company, valued at approximately $4,816,035. The trade was a 27.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard C. Adkerson sold 152,960 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $64.65, for a total value of $9,888,864.00. Following the completion of the sale, the chairman owned 3,356,159 shares of the company’s stock, valued at $216,975,679.35. This trade represents a 4.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 565,145 shares of company stock worth $35,839,918. Corporate insiders own 0.75% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $56.83 on Thursday. Freeport-McMoRan Inc. has a fifty-two week low of $34.45 and a fifty-two week high of $70.96. The business has a 50 day moving average price of $62.25 and a two-hundred day moving average price of $54.21. 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 firm has a market cap of $81.68 billion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 0.78 and a beta of 1.48.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The company had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same quarter last year, the firm earned $0.24 EPS. The business’s revenue was up 8.8% on a year-over-year basis. Sell-side analysts expect that Freeport-McMoRan Inc. will post 2.37 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, April 15th. Freeport-McMoRan’s payout ratio is 15.96%.

Wall Street Analysts Forecast Growth

FCX has been the topic of a number of research analyst reports. BMO Capital Markets raised their price target on Freeport-McMoRan from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Sanford C. Bernstein decreased their price target on 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. UBS Group raised their price target on Freeport-McMoRan from $66.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Argus raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Freeport-McMoRan from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.19.

Key Stories Impacting Freeport-McMoRan

Here are the key news stories impacting Freeport-McMoRan this week:

• Positive Sentiment: MSN argues FCX is a top long?term growth stock, highlighting strong copper demand from electrification, Freeport’s low?cost assets and cash?return potential—supporting a constructive multi?year case for the stock. Why Freeport-McMoRan (FCX) is a top growth stock for the long term
• Neutral Sentiment: Zacks/Yahoo note heavy investor interest and recap key fundamentals: FCX posted an April quarter beat (EPS and revenue), analysts project continued earnings growth, and the stock’s near?term moves will track copper prices, production/guidance and capital?allocation updates. High search volume raises liquidity and attention but is not strictly directional. Investors Heavily Search Freeport-McMoRan Inc. (FCX): Here is What You Need to Know Investors Heavily Search (Yahoo)
• Neutral Sentiment: Exploration results from smaller copper juniors (C3 Metals, Max Resource) were reported this week. These industry news items increase sector visibility but are unlikely to materially affect Freeport’s fundamentals. C3 Metals Continues to Intersect Broad Zones of Near-Surface Copper Mineralization Max Reports High-Grade Channel Results
• Negative Sentiment: BNP Paribas Exane lowered its price target for FCX to $71 (from $75) while keeping an Outperform rating — a modest near?term headwind as the trimmed PT reduces upside expectations. BNP Paribas adjusts price target on Freeport-McMoRan
• Negative Sentiment: CICC Research also cut its price target slightly (to $63.40 from $64.40) while retaining an Outperform rating — another signal of tempered near?term upside despite continued analyst support. CICC adjusts price target on Freeport-McMoRan

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.