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

Kingswood Wealth Advisors LLC raised its position in Freeport-McMoRan Inc. (NYSE:FCX) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,307 shares of the natural resource company’s stock after purchasing an additional 327 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Freeport-McMoRan were worth $1,261,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Freeport-McMoRan by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company’s stock valued at $4,692,191,000 after purchasing an additional 642,776 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Freeport-McMoRan by 21.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company’s stock worth $1,214,203,000 after acquiring an additional 5,735,171 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Freeport-McMoRan by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company’s stock worth $1,122,922,000 after acquiring an additional 688,240 shares during the period. Franklin Resources Inc. raised its stake in shares of Freeport-McMoRan by 8.0% in the fourth quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company’s stock valued at $1,123,445,000 after acquiring an additional 2,191,926 shares in the last quarter. Finally, Capital World Investors boosted its holdings in Freeport-McMoRan by 3.2% in the fourth quarter. Capital World Investors now owns 24,055,524 shares of the natural resource company’s stock valued at $916,037,000 after purchasing an additional 750,500 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $40.02, for a total transaction of $343,531.68. Following the transaction, the chief accounting officer now directly owns 48,333 shares of the company’s stock, valued at approximately $1,934,286.66. This trade represents a 15.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FCX. JPMorgan Chase & Co. cut their price target on Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Jefferies Financial Group reiterated a “buy” rating and set a $50.00 price target (up previously from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. Royal Bank Of Canada increased their price objective on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. Finally, Hsbc Global Res raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average price target of $48.27.

Freeport-McMoRan Price Performance

Shares of FCX opened at $41.17 on Friday. The firm has a fifty day moving average price of $38.15 and a 200 day moving average price of $38.21. The stock has a market cap of $59.16 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $52.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.32 and a quick ratio of 1.13.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. Freeport-McMoRan had a return on equity of 7.03% and a net margin of 7.11%. The business’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 EPS. As a group, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan’s payout ratio is currently 24.79%.

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.