BDO Wealth Advisors LLC Grows Stake in Freeport-McMoRan Inc. (NYSE:FCX)

BDO Wealth Advisors LLC lifted its position in Freeport-McMoRan Inc. (NYSE:FCXGet Rating) by 495.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 601 shares of the natural resource company’s stock after buying an additional 500 shares during the period. BDO Wealth Advisors LLC’s holdings in Freeport-McMoRan were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hollencrest Capital Management grew its position in shares of Freeport-McMoRan by 0.7% during the first quarter. Hollencrest Capital Management now owns 27,728 shares of the natural resource company’s stock valued at $1,379,000 after purchasing an additional 200 shares in the last quarter. Lowe Wealth Advisors LLC boosted its position in shares of Freeport-McMoRan by 8.6% during the first quarter. Lowe Wealth Advisors LLC now owns 3,159 shares of the natural resource company’s stock valued at $157,000 after buying an additional 250 shares during the period. Lindbrook Capital LLC boosted its position in shares of Freeport-McMoRan by 5.7% during the first quarter. Lindbrook Capital LLC now owns 4,816 shares of the natural resource company’s stock valued at $240,000 after buying an additional 260 shares during the period. Atlas Brown Inc. raised its stake in shares of Freeport-McMoRan by 5.0% during the first quarter. Atlas Brown Inc. now owns 5,536 shares of the natural resource company’s stock valued at $275,000 after acquiring an additional 265 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Freeport-McMoRan by 0.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 95,873 shares of the natural resource company’s stock valued at $4,769,000 after acquiring an additional 304 shares in the last quarter. 77.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Dustan E. Mccoy sold 8,200 shares of Freeport-McMoRan stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $39.24, for a total transaction of $321,768.00. Following the sale, the director now directly owns 134,400 shares in the company, valued at approximately $5,273,856. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Dustan E. Mccoy sold 8,200 shares of Freeport-McMoRan stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $39.24, for a total transaction of $321,768.00. Following the sale, the director now directly owns 134,400 shares in the company, valued at approximately $5,273,856. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sara Grootwassink Lewis acquired 3,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average cost of $28.79 per share, for a total transaction of $86,370.00. Following the completion of the transaction, the director now directly owns 13,800 shares in the company, valued at approximately $397,302. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company insiders.

Freeport-McMoRan Price Performance

Shares of FCX opened at $28.76 on Friday. Freeport-McMoRan Inc. has a twelve month low of $24.80 and a twelve month high of $51.99. The firm’s fifty day simple moving average is $32.33 and its 200-day simple moving average is $39.73. The firm has a market capitalization of $41.68 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 0.30 and a beta of 2.01. The company has a current ratio of 2.73, a quick ratio of 1.94 and a debt-to-equity ratio of 0.42.

Freeport-McMoRan (NYSE:FCXGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The natural resource company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.31). Freeport-McMoRan had a net margin of 20.08% and a return on equity of 22.04%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the previous year, the business posted $0.77 earnings per share. Freeport-McMoRan’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities analysts forecast that Freeport-McMoRan Inc. will post 3.24 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 15th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $0.60 annualized dividend and a yield of 2.09%. Freeport-McMoRan’s dividend payout ratio is currently 9.12%.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of recent research reports. BNP Paribas raised shares of Freeport-McMoRan from a “neutral” rating to an “outperform” rating and set a $34.00 price objective for the company in a research note on Wednesday, July 13th. Citigroup boosted their price objective on shares of Freeport-McMoRan from $28.00 to $29.00 in a report on Friday, July 22nd. Royal Bank of Canada boosted their price objective on shares of Freeport-McMoRan from $46.00 to $47.00 and gave the company a “sector perform” rating in a report on Friday, April 22nd. BMO Capital Markets lowered their price target on shares of Freeport-McMoRan from $62.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Freeport-McMoRan from $37.00 to $35.00 in a research report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.00.

Freeport-McMoRan Company Profile

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

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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