Breakwater Capital Group Has $513,000 Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Breakwater Capital Group increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 7.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 10,901 shares of the natural resource company’s stock after acquiring an additional 744 shares during the quarter. Breakwater Capital Group’s holdings in Freeport-McMoRan were worth $513,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in FCX. Bruce G. Allen Investments LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at approximately $27,000. Jones Financial Companies Lllp raised its holdings in Freeport-McMoRan by 422.2% in the 4th quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 532 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at approximately $32,000. EdgeRock Capital LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at approximately $35,000. Finally, American National Bank raised its holdings in Freeport-McMoRan by 348.8% in the 1st quarter. American National Bank now owns 745 shares of the natural resource company’s stock valued at $35,000 after acquiring an additional 579 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 43,900 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $51.08, for a total value of $2,242,412.00. Following the transaction, the chief accounting officer now directly owns 104,377 shares in the company, valued at approximately $5,331,577.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 80,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $52.03, for a total value of $4,162,400.00. Following the transaction, the chief accounting officer now directly owns 104,377 shares in the company, valued at approximately $5,430,735.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephen T. Higgins sold 43,900 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $51.08, for a total value of $2,242,412.00. Following the completion of the transaction, the chief accounting officer now owns 104,377 shares in the company, valued at $5,331,577.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 445,667 shares of company stock worth $22,755,070. Insiders own 0.79% of the company’s stock.

Freeport-McMoRan Stock Up 0.6 %

NYSE FCX opened at $48.60 on Monday. The firm has a market cap of $69.81 billion, a PE ratio of 43.01, a price-to-earnings-growth ratio of 1.99 and a beta of 1.92. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $55.24. The stock’s 50 day simple moving average is $50.58 and its 200 day simple moving average is $45.17. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.41.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $6.32 billion for the quarter, compared to analyst estimates of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. Freeport-McMoRan’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 EPS. As a group, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.74 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, July 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.23%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. UBS Group upped their price target on Freeport-McMoRan from $41.00 to $54.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Argus increased their target price on Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a report on Tuesday, April 9th. Finally, Bernstein Bank increased their target price on Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target of $52.93.

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.