Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by Brookstone Capital Management

Brookstone Capital Management raised its position in Freeport-McMoRan Inc. (NYSE:FCX) by 12.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,217 shares of the natural resource company’s stock after purchasing an additional 883 shares during the quarter. Brookstone Capital Management’s holdings in Freeport-McMoRan were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Boston Partners raised its stake in Freeport-McMoRan by 13,248.4% during the 4th quarter. Boston Partners now owns 5,351,630 shares of the natural resource company’s stock valued at $227,747,000 after acquiring an additional 5,311,538 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in Freeport-McMoRan in the fourth quarter worth about $66,993,000. TD Asset Management Inc lifted its holdings in Freeport-McMoRan by 35.0% in the fourth quarter. TD Asset Management Inc now owns 5,777,840 shares of the natural resource company’s stock worth $245,963,000 after purchasing an additional 1,498,259 shares during the period. Penserra Capital Management LLC grew its position in Freeport-McMoRan by 16,058.7% in the 3rd quarter. Penserra Capital Management LLC now owns 1,500,338 shares of the natural resource company’s stock valued at $55,947,000 after buying an additional 1,491,053 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Freeport-McMoRan by 4,857.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,324,452 shares of the natural resource company’s stock valued at $56,382,000 after buying an additional 1,297,737 shares during the period. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

FCX opened at $48.42 on Tuesday. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month 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. The firm has a market capitalization of $69.55 billion, a P/E ratio of 42.85, a PEG ratio of 1.99 and a beta of 1.92. The stock has a fifty day moving average of $50.56 and a 200-day moving average of $45.21.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data 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 firm had revenue of $6.32 billion during 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%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. Equities analysts forecast that Freeport-McMoRan Inc. will post 1.74 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed 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. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, July 15th. Freeport-McMoRan’s payout ratio is presently 26.55%.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, VP Douglas N. Currault II sold 55,000 shares of Freeport-McMoRan stock in a transaction on Monday, April 29th. The shares were sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the completion of the sale, the vice president now owns 164,067 shares of the company’s stock, valued at approximately $8,529,843.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Douglas N. Currault II sold 55,000 shares of Freeport-McMoRan stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the completion of the sale, the vice president now directly owns 164,067 shares in the company, valued at approximately $8,529,843.33. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Stephen T. Higgins sold 43,900 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 104,377 shares in the company, valued at approximately $5,331,577.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 445,667 shares of company stock worth $22,755,070. 0.79% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FCX shares. BNP Paribas raised shares of Freeport-McMoRan to a “strong-buy” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. decreased their price target on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Raymond James lifted their price target on Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Argus raised their target price on Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target 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. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.93.

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.