Sigma Planning Corp raised its position in Freeport-McMoRan Inc. (NYSE:FCX – Get Rating) by 32.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,539 shares of the natural resource company’s stock after buying an additional 8,903 shares during the period. Sigma Planning Corp’s holdings in Freeport-McMoRan were worth $1,817,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Tompkins Financial Corp boosted its holdings in shares of Freeport-McMoRan by 195.5% during the 4th quarter. Tompkins Financial Corp now owns 591 shares of the natural resource company’s stock worth $25,000 after purchasing an additional 391 shares during the last quarter. St. Johns Investment Management Company LLC acquired a new position in shares of Freeport-McMoRan during the 1st quarter worth approximately $25,000. Key Financial Inc boosted its holdings in shares of Freeport-McMoRan by 526.0% during the 4th quarter. Key Financial Inc now owns 626 shares of the natural resource company’s stock worth $26,000 after purchasing an additional 526 shares during the last quarter. JCIC Asset Management Inc. boosted its holdings in shares of Freeport-McMoRan by 1,190.0% during the 4th quarter. JCIC Asset Management Inc. now owns 645 shares of the natural resource company’s stock worth $27,000 after purchasing an additional 595 shares during the last quarter. Finally, Rational Advisors LLC boosted its holdings in shares of Freeport-McMoRan by 126.2% during the 4th quarter. Rational Advisors LLC now owns 656 shares of the natural resource company’s stock worth $27,000 after purchasing an additional 366 shares during the last quarter. Institutional investors own 77.37% of the company’s stock.
Shares of NYSE FCX opened at $29.20 on Friday. The firm has a market cap of $42.32 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 0.26 and a beta of 2.08. The company has a quick ratio of 1.68, a current ratio of 2.37 and a debt-to-equity ratio of 0.34. Freeport-McMoRan Inc. has a 52-week low of $27.92 and a 52-week high of $51.99. The business’s 50 day moving average is $37.11 and its two hundred day moving average is $41.95.
Freeport-McMoRan (NYSE:FCX – Get Rating) last announced its earnings results on Thursday, April 21st. The natural resource company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.19. Freeport-McMoRan had a return on equity of 24.06% and a net margin of 20.79%. The company had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. The firm’s quarterly revenue was up 36.1% compared to the same quarter last year. Analysts anticipate that Freeport-McMoRan Inc. will post 3.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, July 14th. Freeport-McMoRan’s dividend payout ratio is currently 8.70%.
Several research analysts have recently weighed in on the company. Exane BNP Paribas cut Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $50.00 target price on the stock. in a report on Tuesday, April 5th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Freeport-McMoRan in a research report on Thursday, June 23rd. Credit Suisse Group raised shares of Freeport-McMoRan from an “underperform” rating to a “neutral” rating and raised their price target for the company from $32.00 to $38.00 in a research report on Thursday, June 9th. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Tuesday, April 5th. Finally, Raymond James set a $59.00 price target on shares of Freeport-McMoRan and gave the company an “outperform” rating in a research report on Friday, April 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $46.62.
In other news, Director Dustan E. McCoy sold 8,200 shares of the company’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $39.24, for a total transaction of $321,768.00. Following the sale, the director now owns 134,400 shares of the company’s stock, valued at $5,273,856. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hugh Grant bought 12,300 shares of the stock in a transaction that occurred on Monday, April 25th. The shares were purchased at an average price of $40.75 per share, with a total value of $501,225.00. Following the purchase, the director now owns 15,776 shares of the company’s stock, valued at approximately $642,872. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by corporate insiders.
About Freeport-McMoRan: (Get Rating)
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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