Founders Financial Securities LLC Buys 1,527 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Founders Financial Securities LLC lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,713 shares of the natural resource company’s stock after acquiring an additional 1,527 shares during the period. Founders Financial Securities LLC’s holdings in Freeport-McMoRan were worth $880,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Guidance Capital Inc. lifted its holdings in shares of Freeport-McMoRan by 6.7% in the first quarter. Guidance Capital Inc. now owns 14,450 shares of the natural resource company’s stock valued at $723,000 after purchasing an additional 906 shares in the last quarter. First Dallas Securities Inc. lifted its stake in Freeport-McMoRan by 17.3% in the 1st quarter. First Dallas Securities Inc. now owns 95,176 shares of the natural resource company’s stock valued at $4,475,000 after acquiring an additional 14,061 shares in the last quarter. New England Research & Management Inc. acquired a new position in Freeport-McMoRan during the 1st quarter worth approximately $263,000. Capital Insight Partners LLC grew its stake in shares of Freeport-McMoRan by 18.0% during the 1st quarter. Capital Insight Partners LLC now owns 11,813 shares of the natural resource company’s stock worth $555,000 after acquiring an additional 1,803 shares in the last quarter. Finally, Artemis Investment Management LLP raised its holdings in shares of Freeport-McMoRan by 0.7% in the first quarter. Artemis Investment Management LLP now owns 121,158 shares of the natural resource company’s stock valued at $5,694,000 after purchasing an additional 825 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Up 0.6 %

Shares of NYSE:FCX traded up $0.28 during trading on Friday, reaching $48.60. The stock had a trading volume of 12,546,132 shares, compared to its average volume of 11,832,552. The stock has a market cap of $69.81 billion, a price-to-earnings ratio of 43.01, a P/E/G ratio of 1.99 and a beta of 1.96. 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 Inc. has a 52 week low of $32.83 and a 52 week high of $55.24. The firm’s fifty day moving average is $50.58 and its 200 day moving average is $45.12.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, topping 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 firm had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the business posted $0.52 EPS. The business’s revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 1.73 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Monday, July 15th. Freeport-McMoRan’s payout ratio is 26.55%.

Insider Activity

In related news, CEO Richard C. Adkerson sold 169,229 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $50.56, for a total transaction of $8,556,218.24. Following the transaction, the chief executive officer now owns 3,707,249 shares in the company, valued at approximately $187,438,509.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Stephen T. Higgins sold 42,767 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $50.35, for a total transaction of $2,153,318.45. Following the completion of the sale, the chief accounting officer now owns 104,377 shares in the company, valued at $5,255,381.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard C. Adkerson sold 169,229 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $50.56, for a total value of $8,556,218.24. Following the transaction, the chief executive officer now directly owns 3,707,249 shares in the company, valued at $187,438,509.44. The disclosure for this sale can be found here. Insiders sold 445,667 shares of company stock worth $22,755,070 in the last quarter. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FCX shares. Morgan Stanley upgraded shares of Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $49.50 to $62.00 in a report on Friday, June 21st. Bank of America upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Tuesday, April 9th. Argus upped their target price on Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Bernstein Bank raised their price target on Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Finally, UBS Group boosted their price target on Freeport-McMoRan from $41.00 to $54.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.93.

Freeport-McMoRan 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.