Freeport-McMoRan Inc. (NYSE:FCX) Director Acquires $501,225.00 in Stock

Freeport-McMoRan Inc. (NYSE:FCXGet Rating) Director Hugh Grant bought 12,300 shares of the stock in a transaction dated Monday, April 25th. The stock was bought at an average price of $40.75 per share, with a total value of $501,225.00. Following the purchase, the director now owns 15,776 shares of the company’s stock, valued at approximately $642,872. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

FCX traded down $1.47 during trading on Tuesday, reaching $40.18. The stock had a trading volume of 18,563,480 shares, compared to its average volume of 18,872,283. The firm has a market capitalization of $58.45 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 0.39 and a beta of 2.00. The company has a quick ratio of 1.75, a current ratio of 2.37 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $47.59 and a two-hundred day moving average of $42.36. Freeport-McMoRan Inc. has a 1-year low of $30.02 and a 1-year high of $51.99.

Freeport-McMoRan (NYSE:FCXGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The natural resource company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.13. The company had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.29 billion. Freeport-McMoRan had a net margin of 20.79% and a return on equity of 24.06%. The business’s quarterly revenue was up 36.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. On average, research analysts forecast that Freeport-McMoRan Inc. will post 3.88 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 2nd. Stockholders of record on Thursday, April 14th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Wednesday, April 13th. Freeport-McMoRan’s dividend payout ratio (DPR) is 8.70%.

A number of research firms have commented on FCX. Wolfe Research decreased their price objective on shares of Freeport-McMoRan from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, January 27th. BNP Paribas lowered shares of Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $50.00 price target for the company. in a research report on Tuesday, April 5th. Raymond James set a $59.00 price objective on shares of Freeport-McMoRan and gave the company an “outperform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Freeport-McMoRan from $50.00 to $47.00 and set a “hold” rating for the company in a research report on Friday. Finally, Stifel Nicolaus boosted their price objective on Freeport-McMoRan from $49.00 to $54.00 in a research report on Thursday, March 17th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Hold” and an average target price of $45.87.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning lifted its position in shares of Freeport-McMoRan by 18.2% in the third quarter. Creative Planning now owns 261,808 shares of the natural resource company’s stock worth $8,517,000 after purchasing an additional 40,247 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in Freeport-McMoRan during the third quarter valued at approximately $1,770,000. Fifth Third Bancorp raised its position in 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 acquiring an additional 124,410 shares in the last quarter. Leavell Investment Management Inc. raised its position in Freeport-McMoRan by 8.9% during 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 acquiring an additional 5,002 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. bought a new position in Freeport-McMoRan during the third quarter valued at approximately $2,518,000. 76.05% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Company Profile (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.

Further Reading

Insider Buying and Selling by Quarter for Freeport-McMoRan (NYSE:FCX)

Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.