Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Diversified Trust Co

Diversified Trust Co increased its holdings in Freeport-McMoRan Inc. (NYSE:FCXGet Rating) by 24.2% during the 1st quarter, HoldingsChannel reports. The fund owned 9,835 shares of the natural resource company’s stock after acquiring an additional 1,919 shares during the quarter. Diversified Trust Co’s holdings in Freeport-McMoRan were worth $489,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Cabot Wealth Management Inc. boosted its holdings in Freeport-McMoRan by 0.3% in the fourth quarter. Cabot Wealth Management Inc. now owns 97,461 shares of the natural resource company’s stock valued at $4,067,000 after purchasing an additional 295 shares during the last quarter. Asahi Life Asset Management CO. LTD. boosted its holdings in Freeport-McMoRan by 2.4% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 12,760 shares of the natural resource company’s stock valued at $532,000 after purchasing an additional 300 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Freeport-McMoRan by 67.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 900 shares of the natural resource company’s stock valued at $38,000 after purchasing an additional 361 shares during the last quarter. Rational Advisors LLC boosted its holdings in Freeport-McMoRan by 126.2% in the fourth quarter. Rational Advisors LLC now owns 656 shares of the natural resource company’s stock valued at $27,000 after purchasing an additional 366 shares during the last quarter. Finally, Profund Advisors LLC boosted its holdings in Freeport-McMoRan by 0.8% in the fourth quarter. Profund Advisors LLC now owns 48,707 shares of the natural resource company’s stock valued at $2,033,000 after purchasing an additional 377 shares during the last quarter. 77.37% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have commented on the company. BNP Paribas downgraded Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $50.00 target price on the stock. in a report on Tuesday, April 5th. Exane BNP Paribas downgraded Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $50.00 target price on the stock. in a report on Tuesday, April 5th. Deutsche Bank Aktiengesellschaft cut their price target on Freeport-McMoRan from $50.00 to $47.00 and set a “hold” rating on the stock in a report on Friday, April 22nd. Credit Suisse Group raised Freeport-McMoRan from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $32.00 to $38.00 in a report on Thursday, June 9th. Finally, StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Tuesday, April 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.31.

FCX opened at $29.57 on Friday. Freeport-McMoRan Inc. has a 12 month low of $28.87 and a 12 month high of $51.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.37 and a quick ratio of 1.68. The stock has a market cap of $42.85 billion, a P/E ratio of 8.57, a P/E/G ratio of 0.30 and a beta of 2.02. The stock’s 50 day moving average price is $39.22 and its 200 day moving average price is $42.26.

Freeport-McMoRan (NYSE:FCXGet Rating) last posted its earnings results on Thursday, April 21st. The natural resource company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.88 by $0.19. Freeport-McMoRan had a return on equity of 24.06% and a net margin of 20.79%. The firm had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.29 billion. During the same period last year, the firm earned $0.51 EPS. The firm’s revenue was up 36.1% compared to the same quarter last year. Equities analysts anticipate that Freeport-McMoRan Inc. will post 3.92 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, July 14th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 8.70%.

In related news, Director Hugh Grant acquired 12,300 shares of Freeport-McMoRan stock in a transaction dated Monday, April 25th. The stock was acquired at an average cost of $40.75 per share, with a total value of $501,225.00. Following the purchase, the director now directly owns 15,776 shares in the company, valued at approximately $642,872. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dustan E. Mccoy sold 8,200 shares of the firm’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $39.24, for a total value of $321,768.00. Following the sale, the director now directly owns 134,400 shares of the company’s stock, valued at $5,273,856. The disclosure for this sale can be found here. 0.72% of the stock is currently 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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