Covestor Ltd Purchases Shares of 2,297 Freeport-McMoRan Inc. (NYSE:FCX)

Covestor Ltd purchased a new position in Freeport-McMoRan Inc. (NYSE:FCXGet Rating) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,297 shares of the natural resource company’s stock, valued at approximately $96,000.

Other large investors also recently bought and sold shares of the company. ProShare Advisors LLC increased its stake in Freeport-McMoRan by 17.3% during the fourth quarter. ProShare Advisors LLC now owns 424,303 shares of the natural resource company’s stock valued at $17,707,000 after acquiring an additional 62,696 shares during the period. Fifth Third Bancorp increased its position in shares of Freeport-McMoRan by 47.9% during the fourth quarter. Fifth Third Bancorp now owns 384,153 shares of the natural resource company’s stock valued at $16,031,000 after purchasing an additional 124,410 shares during the period. Leavell Investment Management Inc. raised its stake in shares of Freeport-McMoRan by 8.9% in the fourth quarter. Leavell Investment Management Inc. now owns 61,427 shares of the natural resource company’s stock valued at $2,563,000 after purchasing an additional 5,002 shares in the last quarter. State of Michigan Retirement System lifted its position in Freeport-McMoRan by 0.3% in the fourth quarter. State of Michigan Retirement System now owns 369,663 shares of the natural resource company’s stock worth $15,426,000 after purchasing an additional 1,000 shares during the period. Finally, Jupiter Wealth Management LLC boosted its stake in Freeport-McMoRan by 6.8% during the fourth quarter. Jupiter Wealth Management LLC now owns 78,781 shares of the natural resource company’s stock worth $3,287,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 77.37% of the company’s stock.

Shares of FCX opened at $35.15 on Tuesday. The stock’s fifty day simple moving average is $45.64 and its 200-day simple moving average is $42.45. The firm has a market capitalization of $50.94 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 0.31 and a beta of 2.01. Freeport-McMoRan Inc. has a 12-month low of $30.02 and a 12-month high of $51.99. 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 (NYSE:FCXGet Rating) last released 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. The company had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.29 billion. Freeport-McMoRan had a net margin of 20.79% and a return on equity of 24.06%. The company’s revenue was up 36.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. Analysts anticipate that Freeport-McMoRan Inc. will post 3.83 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Thursday, April 14th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Wednesday, April 13th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 8.70%.

Several research analysts recently issued reports on FCX shares. BMO Capital Markets dropped their price target on shares of Freeport-McMoRan from $62.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Freeport-McMoRan from $50.00 to $47.00 and set a “hold” rating on the stock in a research note on Friday, April 22nd. Exane BNP Paribas downgraded shares of Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $50.00 price target for the company. in a report on Tuesday, April 5th. Wolfe Research decreased their price objective on shares of Freeport-McMoRan from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, January 27th. Finally, Morgan Stanley cut their target price on shares of Freeport-McMoRan from $43.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.57.

In other Freeport-McMoRan news, CFO Kathleen L. Quirk sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $44.02, for a total value of $3,521,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hugh Grant purchased 12,300 shares of Freeport-McMoRan stock in a transaction dated Monday, April 25th. The shares were purchased at an average cost of $40.75 per share, for a total transaction of $501,225.00. Following the completion of the transaction, the director now owns 15,776 shares of the company’s stock, valued at $642,872. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company 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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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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