Brookstone Capital Management Acquires 12,752 Shares of Freeport-McMoRan Inc. $FCX

Brookstone Capital Management lifted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 110.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 24,336 shares of the natural resource company’s stock after purchasing an additional 12,752 shares during the quarter. Brookstone Capital Management’s holdings in Freeport-McMoRan were worth $1,430,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in Freeport-McMoRan in the 4th quarter valued at approximately $25,000. Kemnay Advisory Services Inc. acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth about $29,000. SHP Wealth Management bought a new stake in Freeport-McMoRan during the fourth quarter worth about $30,000. JPL Wealth Management LLC acquired a new stake in shares of Freeport-McMoRan in the 3rd quarter valued at approximately $33,000. Finally, MV Capital Management Inc. acquired a new position in Freeport-McMoRan during the fourth quarter worth $34,000. Institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays assumed coverage on Freeport-McMoRan in a report on Thursday, May 21st. They set an “overweight” rating and a $77.00 price target for the company. Wells Fargo & Company cut their price objective on shares of Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Wall Street Zen raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Scotiabank increased their target price on Freeport-McMoRan from $67.00 to $77.00 and gave the stock a “sector outperform” rating in a report on Monday, June 15th. Finally, HSBC raised their target price on shares of Freeport-McMoRan from $72.00 to $75.00 in a report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $68.27.

Key Freeport-McMoRan News

Here are the key news stories impacting Freeport-McMoRan this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Freeport-McMoRan to $78 from $68 and kept an outperform rating, signaling more upside potential for the stock. BMO Capital adjusts price target on Freeport-McMoRan
• Positive Sentiment: Freeport-McMoRan declared a quarterly cash dividend of $0.15 per share, which includes both a base dividend and a variable dividend, reinforcing shareholder returns and reflecting confidence in cash generation. Freeport declares quarterly cash dividends
• Positive Sentiment: FCX has been showing relative strength versus the broader market, with recent trading action indicating the stock has been rising while the market has dipped. FCX gains as market dips
• Neutral Sentiment: Freeport-McMoRan is also being highlighted as one of the most watched stocks on Zacks, suggesting elevated investor interest, but not necessarily a direct fundamental catalyst. FCX is attracting investor attention
• Neutral Sentiment: Some market commentary says FCX underperformed competitors on Tuesday, which may point to normal trading rotation rather than a major negative company event. Freeport-McMoRan stock underperforms Tuesday when compared to competitors

Freeport-McMoRan Stock Up 1.5%

Shares of NYSE:FCX opened at $62.79 on Friday. Freeport-McMoRan Inc. has a 12-month low of $35.15 and a 12-month high of $72.28. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The firm has a market cap of $90.26 billion, a P/E ratio of 33.40, a P/E/G ratio of 0.75 and a beta of 1.35. The business has a fifty day simple moving average of $64.73 and a 200 day simple moving average of $60.70.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period in the previous year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts predict that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is 15.96%.

About Freeport-McMoRan

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.