O Shaughnessy Asset Management LLC lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 121,898 shares of the natural resource company’s stock after purchasing an additional 14,727 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Freeport-McMoRan were worth $5,732,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of FCX. Brookstone Capital Management increased its stake in shares of Freeport-McMoRan by 7.7% during the 4th quarter. Brookstone Capital Management now owns 7,334 shares of the natural resource company’s stock worth $312,000 after purchasing an additional 524 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Freeport-McMoRan by 42.1% during the 4th quarter. HB Wealth Management LLC now owns 16,851 shares of the natural resource company’s stock worth $717,000 after purchasing an additional 4,990 shares during the last quarter. CoreCap Advisors LLC increased its stake in shares of Freeport-McMoRan by 19.2% during the 4th quarter. CoreCap Advisors LLC now owns 6,660 shares of the natural resource company’s stock worth $284,000 after purchasing an additional 1,075 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth $1,784,000. Finally, CVA Family Office LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth $38,000. Institutional investors and hedge funds own 80.77% of the company’s stock.
Insider Transactions at Freeport-McMoRan
In other news, VP Douglas N. Currault II sold 55,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the completion of the transaction, the vice president now directly owns 164,067 shares of the company’s stock, valued at approximately $8,529,843.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Stephen T. Higgins sold 80,000 shares of Freeport-McMoRan stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $52.03, for a total transaction of $4,162,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 104,377 shares of the company’s stock, valued at approximately $5,430,735.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Douglas N. Currault II sold 55,000 shares of Freeport-McMoRan stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the transaction, the vice president now directly owns 164,067 shares of the company’s stock, valued at $8,529,843.33. The disclosure for this sale can be found here. In the last three months, insiders sold 445,667 shares of company stock valued at $22,755,070. Company insiders own 0.79% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on FCX
Freeport-McMoRan Price Performance
Shares of NYSE:FCX traded down $0.74 during midday trading on Tuesday, reaching $45.27. 18,790,095 shares of the company’s stock were exchanged, compared to its average volume of 13,685,448. The company’s 50 day simple moving average is $50.36 and its two-hundred day simple moving average is $46.00. The firm has a market capitalization of $65.03 billion, a PE ratio of 40.72, a price-to-earnings-growth ratio of 1.05 and a beta of 1.92. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $55.24. 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 – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The natural resource company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $0.35 EPS. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.
Freeport-McMoRan Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders 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 1.33%. The ex-dividend date of this dividend is Monday, July 15th. Freeport-McMoRan’s payout ratio is 26.55%.
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.
Featured Articles
- Five stocks we like better than Freeport-McMoRan
- P/E Ratio Calculation: How to Assess Stocks
- ScottsMiracle-Gro Stock Blooms After Investor Day Optimism
- Stock Dividend Cuts Happen Are You Ready?
- Leading Beverage Company’s Stock Bubbles Higher: Rally Ahead
- What is a Bond Market Holiday? How to Invest and Trade
- Can This Meme Stock Stage One Last Rally?
Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freeport-McMoRan Inc. (NYSE:FCX – Free Report).
Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.