Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by BDO Wealth Advisors LLC

BDO Wealth Advisors LLC raised its stake in shares of Freeport-McMoRan Inc. (NYSE:FCXGet Rating) by 495.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 601 shares of the natural resource company’s stock after purchasing an additional 500 shares during the quarter. BDO Wealth Advisors LLC’s holdings in Freeport-McMoRan were worth $30,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. St. Johns Investment Management Company LLC purchased a new stake in Freeport-McMoRan during the first quarter worth approximately $25,000. FNY Investment Advisers LLC boosted its stake in shares of Freeport-McMoRan by 1,250.0% in the first quarter. FNY Investment Advisers LLC now owns 540 shares of the natural resource company’s stock valued at $26,000 after purchasing an additional 500 shares during the period. GHP Investment Advisors Inc. purchased a new position in shares of Freeport-McMoRan in the first quarter valued at $26,000. Fairfield Bush & CO. purchased a new position in shares of Freeport-McMoRan in the first quarter valued at $26,000. Finally, Rational Advisors LLC raised its holdings in Freeport-McMoRan by 126.2% in the fourth quarter. Rational Advisors LLC now owns 656 shares of the natural resource company’s stock valued at $27,000 after acquiring an additional 366 shares in the last quarter. Institutional investors and hedge funds own 77.37% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $28.76 on Friday. The firm has a 50-day moving average price of $32.33 and a 200 day moving average price of $39.73. The firm has a market capitalization of $41.68 billion, a PE ratio of 8.74, a P/E/G ratio of 0.30 and a beta of 2.01. The company has a quick ratio of 1.94, a current ratio of 2.73 and a debt-to-equity ratio of 0.42. Freeport-McMoRan Inc. has a 52-week low of $24.80 and a 52-week high of $51.99.

Freeport-McMoRan (NYSE:FCXGet Rating) last announced its earnings results on Thursday, July 21st. The natural resource company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.31). Freeport-McMoRan had a net margin of 20.08% and a return on equity of 22.04%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The business’s quarterly revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 3.24 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 15th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, July 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.09%. Freeport-McMoRan’s dividend payout ratio (DPR) is 9.12%.

Analysts Set New Price Targets

Several analysts recently issued reports on FCX shares. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, July 8th. BNP Paribas raised shares of Freeport-McMoRan from a “neutral” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Wednesday, July 13th. BMO Capital Markets dropped their target price on shares of Freeport-McMoRan from $62.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, April 22nd. Barclays dropped their target price on shares of Freeport-McMoRan from $29.00 to $24.00 and set an “underweight” rating on the stock in a report on Tuesday, July 19th. Finally, Exane BNP Paribas raised shares of Freeport-McMoRan from a “neutral” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $42.00.

Insider Activity

In other Freeport-McMoRan news, Director Sara Grootwassink Lewis acquired 3,000 shares of Freeport-McMoRan stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average price of $28.79 per share, for a total transaction of $86,370.00. Following the transaction, the director now owns 13,800 shares in the company, valued at approximately $397,302. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Freeport-McMoRan news, Director Dustan E. Mccoy sold 8,200 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $39.24, for a total value of $321,768.00. Following the completion of the transaction, the director now directly owns 134,400 shares in the company, valued at $5,273,856. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sara Grootwassink Lewis bought 3,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was purchased at an average price of $28.79 per share, with a total value of $86,370.00. Following the completion of the acquisition, the director now owns 13,800 shares of the company’s stock, valued at $397,302. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

About Freeport-McMoRan

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Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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