Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. raised its position in Freeport-McMoRan Inc. (NYSE:FCX) by 14.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,751 shares of the natural resource company’s stock after buying an additional 1,719 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Freeport-McMoRan were worth $647,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new stake in shares of Freeport-McMoRan during the 4th quarter worth $27,000. Jones Financial Companies Lllp boosted its position in shares of Freeport-McMoRan by 422.2% during the 4th quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 532 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Freeport-McMoRan in the 4th quarter worth about $32,000. EdgeRock Capital LLC purchased a new stake in shares of Freeport-McMoRan in the 4th quarter worth about $35,000. Finally, American National Bank boosted its position in shares of Freeport-McMoRan by 348.8% in the 1st quarter. American National Bank now owns 745 shares of the natural resource company’s stock worth $35,000 after buying an additional 579 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Stephen T. Higgins sold 80,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $52.03, for a total transaction of $4,162,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 104,377 shares in the company, valued at approximately $5,430,735.31. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Douglas N. Currault II sold 55,000 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 164,067 shares in the company, valued at $8,529,843.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephen T. Higgins sold 80,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $52.03, for a total value of $4,162,400.00. Following the transaction, the chief accounting officer now owns 104,377 shares in the company, valued at $5,430,735.31. The disclosure for this sale can be found here. In the last three months, insiders sold 445,667 shares of company stock worth $22,755,070. 0.79% of the stock is currently owned by insiders.

Freeport-McMoRan Stock Up 1.7 %

NYSE:FCX traded up $0.88 during trading hours on Friday, hitting $51.53. The stock had a trading volume of 8,299,936 shares, compared to its average volume of 13,918,888. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 1-year low of $32.83 and a 1-year high of $55.24. The business has a 50 day simple moving average of $50.65 and a two-hundred day simple moving average of $45.34. The company has a market cap of $74.02 billion, a PE ratio of 44.82, a price-to-earnings-growth ratio of 2.05 and a beta of 1.92.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The company had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the company earned $0.52 earnings per share. Freeport-McMoRan’s revenue for the quarter was up 17.3% on a year-over-year basis. Analysts predict that Freeport-McMoRan Inc. will post 1.74 EPS for the current year.

Freeport-McMoRan Dividend Announcement

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. This represents a $0.60 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Monday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 26.55%.

Analyst Ratings Changes

FCX has been the topic of several recent research reports. HSBC boosted their price objective on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. BNP Paribas upgraded shares of Freeport-McMoRan to a “strong-buy” rating in a report on Friday, June 21st. Morgan Stanley upgraded shares of Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $49.50 to $62.00 in a report on Friday, June 21st. Bank of America upgraded shares of 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, Argus upped their target price on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.93.

Freeport-McMoRan Company 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.