M Holdings Securities Inc. Buys New Shares in Freeport-McMoRan Inc. (NYSE:FCX)

M Holdings Securities Inc. bought a new stake in Freeport-McMoRan Inc. (NYSE:FCXGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,897 shares of the natural resource company’s stock, valued at approximately $393,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hollencrest Capital Management increased its stake in Freeport-McMoRan by 0.7% in the first quarter. Hollencrest Capital Management now owns 27,728 shares of the natural resource company’s stock valued at $1,379,000 after purchasing an additional 200 shares in the last quarter. Lowe Wealth Advisors LLC increased its stake in Freeport-McMoRan by 8.6% in the first quarter. Lowe Wealth Advisors LLC now owns 3,159 shares of the natural resource company’s stock valued at $157,000 after purchasing an additional 250 shares in the last quarter. Lindbrook Capital LLC increased its stake in Freeport-McMoRan by 5.7% in the first quarter. Lindbrook Capital LLC now owns 4,816 shares of the natural resource company’s stock valued at $240,000 after purchasing an additional 260 shares in the last quarter. Atlas Brown Inc. increased its stake in Freeport-McMoRan by 5.0% in the first quarter. Atlas Brown Inc. now owns 5,536 shares of the natural resource company’s stock valued at $275,000 after purchasing an additional 265 shares in the last quarter. Finally, Kistler Tiffany Companies LLC increased its stake in Freeport-McMoRan by 5.4% in the first quarter. Kistler Tiffany Companies LLC now owns 5,868 shares of the natural resource company’s stock valued at $292,000 after purchasing an additional 298 shares in the last quarter. Institutional investors and hedge funds own 77.38% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $29.33 on Friday. The stock has a market cap of $41.92 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 0.38 and a beta of 2.00. Freeport-McMoRan Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $51.99. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.94 and a current ratio of 2.73. The stock has a fifty day moving average of $29.61 and a 200-day moving average of $37.22.

Freeport-McMoRan (NYSE:FCXGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The natural resource company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.31). The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Freeport-McMoRan had a net margin of 20.08% and a return on equity of 22.04%. Freeport-McMoRan’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 2.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, July 14th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 9.12%.

Insider Buying and Selling

In other Freeport-McMoRan news, Director Ryan Michael Lance bought 31,000 shares of Freeport-McMoRan stock in a transaction that occurred on Monday, August 29th. The stock was acquired at an average cost of $31.88 per share, for a total transaction of $988,280.00. Following the completion of the transaction, the director now directly owns 32,132 shares in the company, valued at $1,024,368.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Sara Grootwassink Lewis purchased 3,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was purchased at an average price of $28.79 per share, with a total value of $86,370.00. Following the completion of the purchase, the director now directly owns 13,800 shares in the company, valued at approximately $397,302. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ryan Michael Lance purchased 31,000 shares of the company’s stock in a transaction on Monday, August 29th. The shares were purchased at an average cost of $31.88 per share, with a total value of $988,280.00. Following the purchase, the director now owns 32,132 shares of the company’s stock, valued at $1,024,368.16. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FCX shares. Raymond James decreased their target price on shares of Freeport-McMoRan from $59.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday, July 4th. Citigroup boosted their target price on shares of Freeport-McMoRan from $28.00 to $29.00 in a research report on Friday, July 22nd. The Goldman Sachs Group decreased their price objective on shares of Freeport-McMoRan from $54.00 to $46.00 and set a “buy” rating for the company in a research note on Thursday, July 14th. Deutsche Bank Aktiengesellschaft reduced their target price on Freeport-McMoRan from $37.00 to $35.00 in a report on Friday, July 22nd. Finally, Credit Suisse Group dropped their price target on Freeport-McMoRan to $34.00 in a report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $42.00.

Freeport-McMoRan Profile

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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.

See Also

Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freeport-McMoRan Inc. (NYSE:FCXGet Rating).

Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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