B. Riley Wealth Advisors Inc. Buys 25,056 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

B. Riley Wealth Advisors Inc. raised its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 53.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,206 shares of the natural resource company’s stock after purchasing an additional 25,056 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Freeport-McMoRan were worth $3,074,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new position in Freeport-McMoRan during the 4th quarter valued at $27,000. Jones Financial Companies Lllp boosted its stake in shares of Freeport-McMoRan by 422.2% during the 4th quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock worth $28,000 after acquiring an additional 532 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in Freeport-McMoRan during the 4th quarter worth approximately $32,000. EdgeRock Capital LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $35,000. Finally, Webster Bank N. A. increased its holdings in shares of Freeport-McMoRan by 6,469.2% during the 4th quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock worth $36,000 after buying an additional 841 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 1.7 %

Shares of FCX opened at $47.27 on Tuesday. The company has a market cap of $67.90 billion, a PE ratio of 41.83, a P/E/G ratio of 2.10 and a beta of 1.96. The business has a fifty day moving average of $50.78 and a 200 day moving average of $44.45. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $55.24. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were given a dividend of $0.15 per share. The ex-dividend date was Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.27%. Freeport-McMoRan’s dividend payout ratio is presently 26.55%.

Analysts Set New Price Targets

FCX has been the topic of a number of recent research reports. UBS Group upped their price objective on Freeport-McMoRan from $41.00 to $54.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. HSBC upped their price target on Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Scotiabank lifted their price objective on Freeport-McMoRan from $53.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 30th. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Tuesday, April 9th. Finally, Argus increased their price target on Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and ten have given a 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 $51.47.

Insider Activity at Freeport-McMoRan

In related news, CAO Stephen T. Higgins sold 80,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $52.03, for a total transaction of $4,162,400.00. Following the transaction, the chief accounting officer now owns 104,377 shares of the company’s stock, valued at $5,430,735.31. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Stephen T. Higgins sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $52.03, for a total transaction of $4,162,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 104,377 shares of the company’s stock, valued at approximately $5,430,735.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard C. Adkerson sold 54,771 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $50.78, for a total transaction of $2,781,271.38. Following the transaction, the chief executive officer now directly owns 3,652,478 shares of the company’s stock, valued at approximately $185,472,832.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 445,667 shares of company stock worth $22,755,070. Company insiders own 0.79% of the company’s stock.

Freeport-McMoRan 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.