Freeport-McMoRan Inc. (NYSE:FCX) Stock Position Raised by Compass Wealth Management LLC

Compass Wealth Management LLC lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,092 shares of the natural resource company’s stock after buying an additional 850 shares during the period. Compass Wealth Management LLC’s holdings in Freeport-McMoRan were worth $2,167,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. PNC Financial Services Group Inc. grew its position in Freeport-McMoRan by 0.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 243,090 shares of the natural resource company’s stock worth $9,065,000 after purchasing an additional 1,426 shares during the last quarter. Aviva PLC grew its position in Freeport-McMoRan by 24.4% in the 3rd quarter. Aviva PLC now owns 216,808 shares of the natural resource company’s stock worth $8,085,000 after purchasing an additional 42,530 shares during the last quarter. Rafferty Asset Management LLC grew its position in Freeport-McMoRan by 10.9% in the 3rd quarter. Rafferty Asset Management LLC now owns 116,605 shares of the natural resource company’s stock worth $4,348,000 after purchasing an additional 11,501 shares during the last quarter. QRG Capital Management Inc. bought a new position in Freeport-McMoRan in the 3rd quarter worth about $6,656,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Freeport-McMoRan in the 3rd quarter worth about $2,224,000. Institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

FCX has been the subject of several recent analyst reports. Scotiabank upped their target price on shares of Freeport-McMoRan from $53.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Freeport-McMoRan from $48.00 to $51.00 and gave the stock a “hold” rating in a research report on Monday, June 10th. Bernstein Bank upped their target price on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Finally, Argus increased their price objective on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus price target of $51.47.

Read Our Latest Report on Freeport-McMoRan

Freeport-McMoRan Price Performance

FCX stock traded up $0.43 on Wednesday, hitting $47.69. 9,008,925 shares of the company’s stock traded hands, compared to its average volume of 13,386,407. Freeport-McMoRan Inc. has a 1-year low of $32.83 and a 1-year high of $55.24. The stock has a market cap of $68.51 billion, a price-to-earnings ratio of 42.20, a P/E/G ratio of 2.06 and a beta of 1.96. The stock has a fifty day moving average of $50.71 and a 200-day moving average of $44.51. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCXGet Free Report) last released its 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 business had revenue of $6.32 billion during the quarter, compared to analyst estimates of $5.70 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 earnings per share. On average, analysts forecast that Freeport-McMoRan Inc. will post 1.71 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

Insider Activity at Freeport-McMoRan

In related news, VP Douglas N. Currault II sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $51.99, for a total value of $2,859,450.00. Following the completion of the sale, the vice president now owns 164,067 shares in the company, valued at approximately $8,529,843.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Douglas N. Currault II sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $51.99, for a total value of $2,859,450.00. Following the completion of the sale, the vice president now owns 164,067 shares in the company, valued at approximately $8,529,843.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard C. Adkerson sold 169,229 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $50.56, for a total transaction of $8,556,218.24. Following the completion of the transaction, the chief executive officer now owns 3,707,249 shares in the company, valued at approximately $187,438,509.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 445,667 shares of company stock worth $22,755,070. 0.79% of the stock is owned by corporate insiders.

Freeport-McMoRan Profile

(Free Report)

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.

Further Reading

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:FCXFree Report).

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

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.