Bokf Na acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 36,459 shares of the natural resource company’s stock, valued at approximately $1,186,000.
Several other large investors have also added to or reduced their stakes in the company. Liberty Wealth Management LLC purchased a new stake in Freeport-McMoRan in the second quarter valued at $26,000. D Orazio & Associates Inc. lifted its holdings in shares of Freeport-McMoRan by 73.8% in the 3rd quarter. D Orazio & Associates Inc. now owns 869 shares of the natural resource company’s stock valued at $28,000 after buying an additional 369 shares during the period. Reilly Financial Advisors LLC boosted its stake in shares of Freeport-McMoRan by 63.5% in the third quarter. Reilly Financial Advisors LLC now owns 901 shares of the natural resource company’s stock worth $29,000 after buying an additional 350 shares during the last quarter. JFS Wealth Advisors LLC grew its holdings in Freeport-McMoRan by 138.4% during the third quarter. JFS Wealth Advisors LLC now owns 1,073 shares of the natural resource company’s stock worth $35,000 after acquiring an additional 623 shares during the period. Finally, Samalin Investment Counsel LLC purchased a new position in Freeport-McMoRan during the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 76.08% of the company’s stock.
In other news, CEO Richard C. Adkerson sold 202,701 shares of the company’s stock in a transaction that occurred on Monday, December 6th. The stock was sold at an average price of $36.71, for a total transaction of $7,441,153.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP C Donald Whitmire, Jr. sold 67,000 shares of Freeport-McMoRan stock in a transaction on Monday, November 8th. The shares were sold at an average price of $39.10, for a total transaction of $2,619,700.00. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.
Shares of NYSE:FCX opened at $40.99 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.50 and a quick ratio of 1.75. Freeport-McMoRan Inc. has a 12 month low of $24.71 and a 12 month high of $46.20. The firm has a market capitalization of $60.19 billion, a P/E ratio of 15.59, a P/E/G ratio of 0.36 and a beta of 2.08. The company’s fifty day moving average price is $40.08 and its 200 day moving average price is $37.30.
Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Wednesday, October 20th. The natural resource company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.08. The business had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $6.22 billion. Freeport-McMoRan had a return on equity of 18.51% and a net margin of 18.45%. The business’s quarterly revenue was up 58.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 EPS. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 3.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Friday, January 14th will be paid a $0.15 dividend. The ex-dividend date is Thursday, January 13th. This represents a $0.60 dividend on an annualized basis and a yield of 1.46%. This is a boost from Freeport-McMoRan’s previous quarterly dividend of $0.08. Freeport-McMoRan’s payout ratio is currently 11.41%.
FCX has been the subject of several recent research reports. Raymond James lifted their target price on shares of Freeport-McMoRan from $45.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, January 18th. Stifel Nicolaus assumed coverage on Freeport-McMoRan in a report on Monday, December 13th. They issued a “buy” rating and a $48.00 price objective on the stock. BNP Paribas raised shares of Freeport-McMoRan from a “neutral” rating to an “outperform” rating and set a $39.50 price target on the stock in a research note on Wednesday, October 6th. Exane BNP Paribas raised shares of Freeport-McMoRan from a “neutral” rating to an “outperform” rating and set a $39.50 target price on the stock in a research note on Wednesday, October 6th. Finally, Morgan Stanley increased their target price on shares of Freeport-McMoRan from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Thursday, December 9th. Three analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has an average rating of “Hold” and an average price target of $41.24.
Freeport-McMoRan Company Profile
Freeport-McMoRan, Inc engages in the mining of copper, gold and molybdenum. It operates through the following segments: North America Copper Mines, South America Mining; Indonesia Mining, Molybdenum Mines, Rod and Refining, Atlantic Copper Smelting and Refining and Corporate, Other and Eliminations. The North America Copper Mines segment operates open-pit copper mines in Morenci, Bagdad, Safford, Sierrita and Miami in Arizona and Chino and Tyrone in New Mexico.
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