CreativeOne Wealth LLC Invests $1.02 Million in Freeport-McMoRan Inc. (NYSE:FCX)

CreativeOne Wealth LLC acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX) in the first quarter, Holdings Channel reports. The firm acquired 21,774 shares of the natural resource company’s stock, valued at approximately $1,024,000.

Several other large investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its stake in shares of Freeport-McMoRan by 422.2% in the fourth quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock worth $28,000 after acquiring an additional 532 shares in the last quarter. American National Bank increased its position in shares of Freeport-McMoRan by 348.8% during the first quarter. American National Bank now owns 745 shares of the natural resource company’s stock worth $35,000 after acquiring an additional 579 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Freeport-McMoRan during the fourth quarter worth $32,000. Tompkins Financial Corp increased its position in shares of Freeport-McMoRan by 33.8% during the first quarter. Tompkins Financial Corp now owns 791 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 200 shares during the period. Finally, MV Capital Management Inc. increased its position in shares of Freeport-McMoRan by 38.6% during the first quarter. MV Capital Management Inc. now owns 794 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 221 shares during the period. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

NYSE FCX traded up $0.47 during trading hours on Friday, hitting $45.00. The company had a trading volume of 10,390,517 shares, compared to its average volume of 10,741,873. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.41 and a current ratio of 2.40. Freeport-McMoRan Inc. has a 1-year low of $32.83 and a 1-year high of $55.24. The company has a market cap of $64.64 billion, a PE ratio of 39.82, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The business has a 50 day moving average of $49.68 and a 200-day moving average of $46.02.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, July 23rd. The natural resource company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. Freeport-McMoRan had a net margin of 7.83% and a return on equity of 7.60%. The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Freeport-McMoRan’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 1.7 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. Freeport-McMoRan’s dividend payout ratio (DPR) is 26.55%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FCX. UBS Group upped their price objective on Freeport-McMoRan from $41.00 to $54.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft upped their price objective on Freeport-McMoRan from $48.00 to $51.00 and gave the stock a “hold” rating in a research report on Monday, June 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $60.00 target price on shares of Freeport-McMoRan in a report on Wednesday. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, April 9th. Finally, BNP Paribas raised Freeport-McMoRan to a “strong-buy” rating in a report on Friday, June 21st. Five investment 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 has a consensus rating of “Moderate Buy” and an average price target of $53.07.

Insider Transactions at Freeport-McMoRan

In other news, VP Douglas N. Currault II sold 55,000 shares of the stock in a transaction dated 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 in the company, valued at $8,529,843.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Douglas N. Currault II sold 55,000 shares of the stock in a transaction dated 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 in the company, valued at $8,529,843.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Stephen T. Higgins sold 42,767 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $50.35, for a total transaction of $2,153,318.45. Following the completion of the sale, the chief accounting officer now owns 104,377 shares of the company’s stock, valued at approximately $5,255,381.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 445,667 shares of company stock worth $22,755,070. Company insiders own 0.79% of the company’s stock.

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.