37,276 Shares in Freeport-McMoRan Inc. $FCX Bought by Perryman Financial Advisory Inc. AD

Perryman Financial Advisory Inc. AD bought a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, Holdings Channel.com reports. The fund bought 37,276 shares of the natural resource company’s stock, valued at approximately $1,893,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Leo Wealth LLC grew its stake in Freeport-McMoRan by 2.5% during the 4th quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock worth $347,000 after purchasing an additional 170 shares in the last quarter. Physician Wealth Advisors Inc. boosted its position in shares of Freeport-McMoRan by 23.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company’s stock worth $47,000 after acquiring an additional 176 shares in the last quarter. Castle Rock Wealth Management LLC boosted its position in shares of Freeport-McMoRan by 3.3% during the 4th quarter. Castle Rock Wealth Management LLC now owns 5,687 shares of the natural resource company’s stock worth $289,000 after acquiring an additional 180 shares in the last quarter. GW&K Investment Management LLC boosted its position in shares of Freeport-McMoRan by 11.1% during the 4th quarter. GW&K Investment Management LLC now owns 1,840 shares of the natural resource company’s stock worth $93,000 after acquiring an additional 184 shares in the last quarter. Finally, Private Trust Co. NA boosted its position in shares of Freeport-McMoRan by 6.7% during the 4th quarter. Private Trust Co. NA now owns 3,119 shares of the natural resource company’s stock worth $158,000 after acquiring an additional 195 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FCX shares. Citigroup lowered their price objective on Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, May 1st. HSBC upped their price objective on Freeport-McMoRan from $72.00 to $75.00 in a research report on Friday. Sanford C. Bernstein upped their price objective on Freeport-McMoRan from $53.50 to $58.50 and gave the stock a “market perform” rating in a research report on Wednesday. Freedom Capital raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Finally, UBS Group upped their price objective on Freeport-McMoRan from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.86.

Freeport-McMoRan Stock Down 0.2%

Shares of NYSE FCX opened at $68.28 on Monday. The stock has a market cap of $98.15 billion, a PE ratio of 36.32, a price-to-earnings-growth ratio of 0.82 and a beta of 1.35. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $72.09. The business has a 50-day moving average price of $64.24 and a 200 day moving average price of $59.18.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The firm 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 business’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. Equities research analysts forecast that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were given a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.4%. Freeport-McMoRan’s dividend payout ratio is 15.96%.

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.