Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCXGet Rating) by 42.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,005 shares of the natural resource company’s stock after acquiring an additional 15,986 shares during the quarter. Advisors Asset Management Inc.’s holdings in Freeport-McMoRan were worth $1,580,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Fairfield Bush & CO. purchased a new position in Freeport-McMoRan during the first quarter worth approximately $26,000. GHP Investment Advisors Inc. purchased a new position in Freeport-McMoRan during the first quarter worth approximately $26,000. Core Alternative Capital raised its stake in Freeport-McMoRan by 444.7% during the first quarter. Core Alternative Capital now owns 561 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 458 shares during the period. BDO Wealth Advisors LLC raised its stake in Freeport-McMoRan by 495.0% during the first quarter. BDO Wealth Advisors LLC now owns 601 shares of the natural resource company’s stock worth $30,000 after purchasing an additional 500 shares during the period. Finally, Quent Capital LLC purchased a new position in Freeport-McMoRan during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 77.38% of the company’s stock.

Insider Activity

In other Freeport-McMoRan news, Director Ryan Michael Lance purchased 31,000 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was acquired at an average cost of $31.88 per share, with a total value of $988,280.00. Following the acquisition, the director now owns 32,132 shares of the company’s stock, valued at approximately $1,024,368.16. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.72% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $37.89 on Tuesday. The firm has a market cap of $54.16 billion, a P/E ratio of 14.41, a P/E/G ratio of 0.55 and a beta of 1.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.56 and a quick ratio of 1.76. Freeport-McMoRan Inc. has a 1-year low of $24.80 and a 1-year high of $51.99. The firm has a fifty day moving average of $30.64 and a two-hundred day moving average of $32.20.

Freeport-McMoRan (NYSE:FCXGet Rating) last announced its quarterly earnings data on Thursday, October 20th. The natural resource company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.14). The company had revenue of $5 billion for the quarter, compared to analyst estimates of $4.91 billion. Freeport-McMoRan had a return on equity of 17.69% and a net margin of 16.72%. Freeport-McMoRan’s revenue was down 17.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 earnings per share. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 2.36 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, October 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, October 13th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 11.41%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FCX. Royal Bank of Canada cut their price target on shares of Freeport-McMoRan from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Friday, October 21st. BNP Paribas downgraded shares of Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $29.00 target price on the stock. in a research note on Thursday, October 6th. Credit Suisse Group cut their target price on shares of Freeport-McMoRan to $34.00 in a research note on Friday, July 22nd. StockNews.com started coverage on shares of Freeport-McMoRan in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Freeport-McMoRan from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.73.

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.

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

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