Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Savant Capital LLC

Savant Capital LLC lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,256 shares of the natural resource company’s stock after buying an additional 481 shares during the period. Savant Capital LLC’s holdings in Freeport-McMoRan were worth $607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FCX. Fulton Bank N.A. increased its stake in shares of Freeport-McMoRan by 2.6% during the fourth quarter. Fulton Bank N.A. now owns 10,606 shares of the natural resource company’s stock worth $451,000 after acquiring an additional 267 shares during the period. Drive Wealth Management LLC lifted its holdings in shares of Freeport-McMoRan by 2.8% in the 4th quarter. Drive Wealth Management LLC now owns 9,840 shares of the natural resource company’s stock valued at $419,000 after buying an additional 267 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Freeport-McMoRan by 38.8% in the fourth quarter. Sound Income Strategies LLC now owns 965 shares of the natural resource company’s stock valued at $41,000 after buying an additional 270 shares in the last quarter. PFG Investments LLC grew its holdings in Freeport-McMoRan by 1.7% during the fourth quarter. PFG Investments LLC now owns 16,844 shares of the natural resource company’s stock worth $717,000 after acquiring an additional 285 shares during the period. Finally, Oarsman Capital Inc. lifted its holdings in Freeport-McMoRan by 0.7% in the third quarter. Oarsman Capital Inc. now owns 45,869 shares of the natural resource company’s stock valued at $1,710,000 after acquiring an additional 304 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Insider Transactions at Freeport-McMoRan

In related news, CAO Stephen T. Higgins sold 43,900 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $51.08, for a total value of $2,242,412.00. Following the completion of the sale, the chief accounting officer now directly owns 104,377 shares in the company, valued at $5,331,577.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Stephen T. Higgins sold 43,900 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $51.08, for a total value of $2,242,412.00. Following the transaction, the chief accounting officer now directly owns 104,377 shares of the company’s stock, valued at approximately $5,331,577.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen T. Higgins sold 42,767 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $50.35, for a total value of $2,153,318.45. Following the sale, the chief accounting officer now directly owns 104,377 shares of the company’s stock, valued at approximately $5,255,381.95. The disclosure for this sale can be found here. Insiders have sold a total of 310,896 shares of company stock worth $15,811,399 in the last three months. Company insiders own 0.78% of the company’s stock.

Freeport-McMoRan Stock Up 3.4 %

FCX stock opened at $50.45 on Friday. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $52.52. The stock has a market capitalization of $72.37 billion, a P/E ratio of 44.65, a PEG ratio of 8.19 and a beta of 2.02. The company has a 50 day moving average price of $45.86 and a two-hundred day moving average price of $40.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.41 and a current ratio of 2.35.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The business had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.66 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.19%. Freeport-McMoRan’s payout ratio is currently 26.55%.

Analysts Set New Price Targets

FCX has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price target on shares of Freeport-McMoRan in a report on Thursday, January 25th. Raymond James upped their price target on Freeport-McMoRan from $49.50 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $41.00 to $48.50 in a report on Monday, January 8th. Bernstein Bank upped their target price on Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Finally, HSBC raised their price target on Freeport-McMoRan from $39.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus target price of $50.07.

Freeport-McMoRan Company Profile

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.