Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Jeppson Wealth Management LLC

Jeppson Wealth Management LLC increased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,964 shares of the natural resource company’s stock after purchasing an additional 723 shares during the quarter. Jeppson Wealth Management LLC’s holdings in Freeport-McMoRan were worth $1,832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at $27,000. Jones Financial Companies Lllp lifted its holdings in Freeport-McMoRan by 422.2% in the 4th quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 532 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter valued at about $32,000. EdgeRock Capital LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter worth approximately $35,000. Finally, American National Bank lifted its stake in Freeport-McMoRan by 348.8% during the first quarter. American National Bank now owns 745 shares of the natural resource company’s stock valued at $35,000 after purchasing an additional 579 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FCX has been the subject of a number of recent research reports. UBS Group increased their price objective on Freeport-McMoRan from $41.00 to $54.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Raymond James upped their target price on Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Argus lifted their price target on Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Scotiabank upped their price objective on shares of Freeport-McMoRan from $53.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 30th. Finally, Morgan Stanley raised shares of Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $49.50 to $62.00 in a research report on Friday, June 21st. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average price target of $52.93.

Freeport-McMoRan Stock Up 0.6 %

Shares of NYSE:FCX traded up $0.28 on Friday, reaching $48.60. The company had a trading volume of 12,546,132 shares, compared to its average volume of 11,832,552. The stock has a market capitalization of $69.81 billion, a P/E ratio of 43.01, a P/E/G ratio of 2.00 and a beta of 1.96. The stock has a 50-day moving average price of $50.58 and a 200 day moving average price of $45.12. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $55.24. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. On average, equities analysts expect that Freeport-McMoRan Inc. will post 1.74 EPS for the current year.

Freeport-McMoRan Announces Dividend

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

Insider Buying and Selling

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 43,900 shares of the business’s 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 owns 104,377 shares of the company’s stock, 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 other news, CAO Stephen T. Higgins sold 80,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $52.03, for a total transaction of $4,162,400.00. Following the completion of the sale, the chief accounting officer now owns 104,377 shares in the company, valued at $5,430,735.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Stephen T. Higgins sold 43,900 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 104,377 shares in the company, valued at approximately $5,331,577.16. The disclosure for this sale can be found here. Insiders have sold a total of 445,667 shares of company stock worth $22,755,070 in the last three months. Insiders own 0.79% of the company’s stock.

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.