4,914 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Bought by Carson Advisory Inc.

Carson Advisory Inc. purchased a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,914 shares of the natural resource company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FCX. CM Management LLC raised its holdings in shares of Freeport-McMoRan by 80.0% in the 3rd quarter. CM Management LLC now owns 36,000 shares of the natural resource company’s stock worth $1,342,000 after acquiring an additional 16,000 shares during the last quarter. Signature Estate & Investment Advisors LLC increased its holdings in Freeport-McMoRan by 6.4% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock worth $14,726,000 after purchasing an additional 20,894 shares in the last quarter. Cadinha & Co. LLC raised its stake in shares of Freeport-McMoRan by 59.0% in the fourth quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company’s stock worth $27,572,000 after purchasing an additional 240,340 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Freeport-McMoRan by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company’s stock valued at $279,977,000 after purchasing an additional 102,466 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd lifted its holdings in shares of Freeport-McMoRan by 57.4% in the third quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock valued at $201,039,000 after purchasing an additional 1,965,987 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Insider Transactions at Freeport-McMoRan

In related news, CEO Richard C. Adkerson sold 169,229 shares of Freeport-McMoRan stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $50.56, for a total transaction of $8,556,218.24. Following the completion of the sale, the chief executive officer now owns 3,707,249 shares of the company’s stock, valued at $187,438,509.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Richard C. Adkerson sold 169,229 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were 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 directly owns 3,707,249 shares in the company, valued at $187,438,509.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Douglas N. Currault II sold 55,000 shares of Freeport-McMoRan stock in a transaction that occurred 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 sale, the vice president now owns 164,067 shares of the company’s stock, valued at $8,529,843.33. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX traded down $1.13 during midday trading on Thursday, reaching $48.78. 24,386,125 shares of the company traded hands, compared to its average volume of 14,341,563. The firm’s fifty day moving average price is $45.43 and its two-hundred day moving average price is $40.68. The firm has a market capitalization of $69.97 billion, a price-to-earnings ratio of 44.17, a price-to-earnings-growth ratio of 8.09 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 12 month low of $32.83 and a 12 month 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 for the quarter, beating the consensus estimate of $0.27 by $0.05. The firm had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The company’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. On average, equities analysts expect that Freeport-McMoRan Inc. will post 1.67 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company 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 of this dividend was Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 26.55%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FCX. Scotiabank lowered their price target on Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating for the company in a research report on Wednesday, April 24th. Raymond James boosted their price target on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, January 25th. Bernstein Bank boosted their target price on Freeport-McMoRan from $52.00 to $52.50 and gave the stock 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 report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.07.

About Freeport-McMoRan

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.