4,496 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Bought by AJOVista LLC

AJOVista LLC bought a new position in Freeport-McMoRan Inc. (NYSE:FCX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,496 shares of the natural resource company’s stock, valued at approximately $191,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sapient Capital LLC acquired a new position in Freeport-McMoRan in the 4th quarter worth about $200,000. Carson Advisory Inc. acquired a new position in Freeport-McMoRan in the 4th quarter worth about $209,000. Benjamin F. Edwards & Company Inc. increased its holdings in Freeport-McMoRan by 5.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 60,540 shares of the natural resource company’s stock worth $2,578,000 after purchasing an additional 3,231 shares in the last quarter. Natixis Advisors L.P. increased its holdings in Freeport-McMoRan by 1.7% in the 4th quarter. Natixis Advisors L.P. now owns 1,870,067 shares of the natural resource company’s stock worth $79,608,000 after purchasing an additional 31,571 shares in the last quarter. Finally, Mechanics Financial Corp increased its holdings in Freeport-McMoRan by 8.5% in the 4th quarter. Mechanics Financial Corp now owns 8,740 shares of the natural resource company’s stock worth $372,000 after purchasing an additional 685 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Ratings Changes

FCX has been the subject of several recent research reports. Scotiabank decreased their price target on Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating for the company in a research note on Wednesday, April 24th. Raymond James increased their price target on Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Bernstein Bank increased their price target on Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Finally, Argus increased their price target on Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and an average price target of $50.07.

Insider Activity

In other news, VP Douglas N. Currault II sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $51.99, for a total value of $2,859,450.00. Following the transaction, the vice president now owns 164,067 shares in the company, valued at $8,529,843.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Richard C. Adkerson sold 169,229 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $50.56, for a total value of $8,556,218.24. Following the transaction, the chief executive officer now owns 3,707,249 shares in the company, valued at $187,438,509.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Douglas N. Currault II sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $51.99, for a total value of $2,859,450.00. Following the completion of the transaction, the vice president now owns 164,067 shares in the company, valued at approximately $8,529,843.33. The disclosure for this sale can be found here. Insiders have sold 310,896 shares of company stock worth $15,811,399 over the last 90 days. 0.78% of the stock is currently owned by corporate insiders.

Freeport-McMoRan Stock Up 3.4 %

NYSE:FCX traded up $1.67 on Friday, hitting $50.45. The stock had a trading volume of 14,498,117 shares, compared to its average volume of 17,456,276. The business’s fifty day moving average is $45.86 and its 200 day moving average is $40.87. The company has a market cap of $72.37 billion, a PE ratio of 44.65, a P/E/G ratio of 8.19 and a beta of 2.02. 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 Inc. has a 52 week low of $32.83 and a 52 week high of $52.52.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly 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 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%. The company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, equities research analysts expect that Freeport-McMoRan Inc. will post 1.66 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.60 annualized dividend and a yield of 1.19%. Freeport-McMoRan’s payout ratio is currently 26.55%.

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.