O Shaughnessy Asset Management LLC Has $5.73 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

O Shaughnessy Asset Management LLC lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) 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

A number of research analysts recently issued reports on FCX shares. BNP Paribas upgraded shares of Freeport-McMoRan to a “strong-buy” rating in a research note on Friday, June 21st. UBS Group raised their target price on shares of Freeport-McMoRan from $41.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Morgan Stanley upgraded shares of Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $49.50 to $62.00 in a research note on Friday, June 21st. Finally, Scotiabank raised their target price 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. Five research 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, the company has an average rating of “Moderate Buy” and a consensus price target of $52.93.

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) 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.