Fidelis Capital Partners LLC Acquires 2,550 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Fidelis Capital Partners LLC increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 24.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,088 shares of the natural resource company’s stock after acquiring an additional 2,550 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Freeport-McMoRan were worth $615,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FCX. Belpointe Asset Management LLC grew its stake in Freeport-McMoRan by 38.6% in the 4th quarter. Belpointe Asset Management LLC now owns 16,891 shares of the natural resource company’s stock valued at $719,000 after buying an additional 4,703 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Freeport-McMoRan by 1.8% during the fourth quarter. Fisher Asset Management LLC now owns 55,656,836 shares of the natural resource company’s stock worth $2,369,312,000 after purchasing an additional 976,592 shares during the period. Oaktree Capital Management LP lifted its holdings in Freeport-McMoRan by 7.8% during the 4th quarter. Oaktree Capital Management LP now owns 2,917,913 shares of the natural resource company’s stock worth $124,216,000 after purchasing an additional 211,608 shares during the last quarter. Norden Group LLC increased its position in Freeport-McMoRan by 1,823.1% during the 1st quarter. Norden Group LLC now owns 249,885 shares of the natural resource company’s stock worth $11,750,000 after buying an additional 236,891 shares during the period. Finally, Signature Estate & Investment Advisors LLC lifted its holdings in shares of Freeport-McMoRan by 6.4% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock worth $14,726,000 after buying an additional 20,894 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Insider Activity

In other news, VP Douglas N. Currault II sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $51.99, for a total value of $2,859,450.00. Following the completion of the transaction, the vice president now owns 164,067 shares of the company’s stock, valued at $8,529,843.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Douglas N. Currault II sold 55,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $51.99, for a total value of $2,859,450.00. Following the sale, the vice president now owns 164,067 shares of the company’s stock, valued at $8,529,843.33. The sale was disclosed in a legal filing with the SEC, 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 directly owns 104,377 shares of the company’s stock, valued at $5,430,735.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 445,667 shares of company stock valued at $22,755,070. 0.79% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FCX has been the topic of a number of recent research reports. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. HSBC lifted their price target on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Raymond James increased their price target on Freeport-McMoRan from $49.50 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Morgan Stanley upgraded Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $49.50 to $62.00 in a research note on Friday, June 21st. Finally, UBS Group upped their target price on Freeport-McMoRan from $41.00 to $54.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.93.

View Our Latest Stock Analysis on FCX

Freeport-McMoRan Price Performance

Shares of FCX traded down $0.87 during mid-day trading on Monday, reaching $50.65. The company had a trading volume of 2,097,987 shares, compared to its average volume of 13,824,777. The company’s 50 day simple moving average is $50.67 and its 200 day simple moving average is $45.46. The company has a market capitalization of $72.76 billion, a price-to-earnings ratio of 45.59, a P/E/G ratio of 2.09 and a beta of 1.92. Freeport-McMoRan Inc. has a 1-year low of $32.83 and a 1-year high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.41 and a current ratio of 2.35.

Freeport-McMoRan (NYSE:FCXGet Free Report) last posted its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The firm had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. Analysts expect that Freeport-McMoRan Inc. will post 1.72 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be given a $0.15 dividend. The ex-dividend date is Monday, July 15th. This represents a $0.60 annualized dividend and a yield of 1.18%. Freeport-McMoRan’s dividend payout ratio is presently 26.55%.

Freeport-McMoRan Company Profile

(Free Report)

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.

Further Reading

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

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