RPg Family Wealth Advisory LLC Purchases New Stake in Freeport-McMoRan Inc. (NYSE:FCX)

RPg Family Wealth Advisory LLC purchased 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 & Exchange Commission. The firm purchased 110,339 shares of the natural resource company’s stock, valued at approximately $5,488,000. Freeport-McMoRan accounts for about 2.3% of RPg Family Wealth Advisory LLC’s holdings, making the stock its 13th largest holding.

Several other hedge funds have also recently bought and sold shares of FCX. Hollencrest Capital Management raised its stake in shares of Freeport-McMoRan by 0.7% during 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 during the period. Lowe Wealth Advisors LLC grew its position in shares of Freeport-McMoRan by 8.6% during the first quarter. Lowe Wealth Advisors LLC now owns 3,159 shares of the natural resource company’s stock worth $157,000 after buying an additional 250 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Freeport-McMoRan by 5.7% during the first quarter. Lindbrook Capital LLC now owns 4,816 shares of the natural resource company’s stock worth $240,000 after buying an additional 260 shares in the last quarter. Atlas Brown Inc. grew its position in shares of Freeport-McMoRan by 5.0% during the first quarter. Atlas Brown Inc. now owns 5,536 shares of the natural resource company’s stock worth $275,000 after buying an additional 265 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Freeport-McMoRan by 0.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 95,873 shares of the natural resource company’s stock worth $4,769,000 after buying an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 77.37% of the company’s stock.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of recent analyst reports. Morgan Stanley reissued an “equal weight” rating on shares of Freeport-McMoRan in a research report on Thursday, June 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Freeport-McMoRan from $37.00 to $35.00 in a report on Friday, July 22nd. Raymond James decreased their price objective on shares of Freeport-McMoRan from $59.00 to $52.00 and set an “outperform” rating for the company in a report on Monday, July 4th. BMO Capital Markets decreased their price objective on shares of Freeport-McMoRan from $62.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, April 22nd. Finally, Citigroup lifted their price objective on shares of Freeport-McMoRan from $28.00 to $29.00 in a report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $42.00.

Insider Buying and Selling

In related news, Director Dustan E. Mccoy sold 8,200 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $39.24, for a total value of $321,768.00. Following the completion of the transaction, the director now owns 134,400 shares of the company’s stock, valued at approximately $5,273,856. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Sara Grootwassink Lewis acquired 3,000 shares of the firm’s stock in a transaction that occurred 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 purchase, the director now owns 13,800 shares of the company’s stock, valued at approximately $397,302. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dustan E. Mccoy sold 8,200 shares of Freeport-McMoRan stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $39.24, for a total transaction of $321,768.00. Following the sale, the director now directly owns 134,400 shares of the company’s stock, valued at approximately $5,273,856. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Freeport-McMoRan Trading Up 5.3 %

Shares of NYSE:FCX opened at $30.27 on Friday. The stock has a market capitalization of $43.87 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.30 and a beta of 2.01. Freeport-McMoRan Inc. has a 1-year low of $24.80 and a 1-year 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 company has a 50 day moving average price of $32.14 and a 200 day moving average price of $39.63.

Freeport-McMoRan (NYSE:FCXGet Rating) last issued its earnings results on Thursday, July 21st. The natural resource company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.31). The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $6.20 billion. Freeport-McMoRan had a return on equity of 22.04% and a net margin of 20.08%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 earnings per share. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 3.24 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Thursday, July 14th. Freeport-McMoRan’s payout ratio is 9.12%.

Freeport-McMoRan Company Profile

(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.

Further Reading

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

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