S.A. Mason LLC Has $145,000 Position in Freeport-McMoRan Inc. (NYSE:FCX)

S.A. Mason LLC lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 45.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,078 shares of the natural resource company’s stock after acquiring an additional 958 shares during the period. S.A. Mason LLC’s holdings in Freeport-McMoRan were worth $145,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter valued at $27,000. Jones Financial Companies Lllp increased its stake in Freeport-McMoRan by 422.2% during the 4th quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 532 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Freeport-McMoRan during the 4th quarter valued at $32,000. EdgeRock Capital LLC bought a new stake in Freeport-McMoRan during the 4th quarter valued at $35,000. Finally, American National Bank increased its stake in Freeport-McMoRan by 348.8% during the 1st quarter. American National Bank now owns 745 shares of the natural resource company’s stock valued at $35,000 after purchasing an additional 579 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bernstein Bank boosted their price target on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. UBS Group boosted their price target on shares of Freeport-McMoRan from $41.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Scotiabank boosted their price target on shares of Freeport-McMoRan from $53.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 30th. Morgan Stanley upgraded shares of Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $49.50 to $62.00 in a research note on Friday, June 21st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Freeport-McMoRan from $48.00 to $51.00 and gave the stock a “hold” rating in a research note on Monday, June 10th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.93.

Freeport-McMoRan Stock Performance

NYSE FCX traded down $0.16 during trading on Thursday, hitting $49.31. 610,246 shares of the company’s stock traded hands, compared to its average volume of 14,050,359. The stock has a market capitalization of $70.83 billion, a price-to-earnings ratio of 43.77, a PEG ratio of 2.17 and a beta of 1.96. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month 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. The business has a 50 day moving average of $50.63 and a 200-day moving average of $44.97.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $5.70 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. As a group, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.72 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Monday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CEO Richard C. Adkerson sold 169,229 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $50.56, for a total transaction of $8,556,218.24. Following the sale, the chief executive officer now directly owns 3,707,249 shares of the company’s stock, valued at $187,438,509.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Richard C. Adkerson sold 169,229 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $50.56, for a total value of $8,556,218.24. Following the sale, the chief executive officer now directly owns 3,707,249 shares of the company’s stock, valued at $187,438,509.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Stephen T. Higgins sold 42,767 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $50.35, for a total transaction of $2,153,318.45. Following the completion of the sale, the chief accounting officer now directly owns 104,377 shares in the company, valued at $5,255,381.95. The disclosure for this sale can be found here. Insiders have sold a total of 445,667 shares of company stock valued at $22,755,070 over the last three months. 0.79% of the stock is currently owned by insiders.

Freeport-McMoRan Profile

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.