Diversified Trust Co. Has $1.27 Million Stock Holdings in Freeport-McMoRan Inc. $FCX

Diversified Trust Co. raised its position in Freeport-McMoRan Inc. (NYSE:FCX) by 219.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 25,046 shares of the natural resource company’s stock after acquiring an additional 17,211 shares during the period. Diversified Trust Co.’s holdings in Freeport-McMoRan were worth $1,272,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Freeport-McMoRan in the third quarter valued at approximately $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in Freeport-McMoRan during the second quarter worth $28,000. Salomon & Ludwin LLC boosted its holdings in Freeport-McMoRan by 1,962.9% during the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock worth $29,000 after purchasing an additional 687 shares during the last quarter. JPL Wealth Management LLC bought a new position in Freeport-McMoRan in the third quarter valued at $33,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Freeport-McMoRan in the third quarter valued at $36,000. 80.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FCX has been the topic of several analyst reports. BMO Capital Markets boosted their price target on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Freedom Capital upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Saturday, February 21st. UBS Group lifted their target price on Freeport-McMoRan from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Morgan Stanley set a $70.00 target price on Freeport-McMoRan in a report on Tuesday, January 27th. Finally, Citigroup increased their price target on Freeport-McMoRan from $48.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.59.

Insider Activity at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total transaction of $682,330.00. Following the transaction, the chief accounting officer directly owned 40,773 shares of the company’s stock, valued at approximately $2,529,149.19. The trade was a 21.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Douglas N. Currault II sold 75,000 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $64.52, for a total value of $4,839,000.00. Following the completion of the sale, the executive vice president owned 219,181 shares in the company, valued at approximately $14,141,558.12. This trade represents a 25.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 565,145 shares of company stock worth $35,839,918 in the last three months. 0.75% of the stock is owned by company insiders.

Freeport-McMoRan Stock Down 2.1%

Shares of FCX stock opened at $55.91 on Friday. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $69.75. The stock has a market cap of $80.36 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 0.67 and a beta of 1.41. The firm’s 50-day moving average is $61.39 and its 200-day moving average is $50.57. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.19. The business had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.Freeport-McMoRan’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $0.31 earnings per share. Sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, April 15th. Freeport-McMoRan’s payout ratio is currently 19.87%.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.