Kestra Private Wealth Services LLC Acquires 1,982 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Kestra Private Wealth Services LLC raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,818 shares of the natural resource company’s stock after purchasing an additional 1,982 shares during the period. Kestra Private Wealth Services LLC’s holdings in Freeport-McMoRan were worth $2,078,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at approximately $27,000. BluePath Capital Management LLC acquired a new position in Freeport-McMoRan in the 3rd quarter valued at $28,000. Webster Bank N. A. lifted its position in shares of Freeport-McMoRan by 6,469.2% during the 4th quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock valued at $36,000 after acquiring an additional 841 shares during the period. CVA Family Office LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth $38,000. Finally, Orion Capital Management LLC bought a new position in shares of Freeport-McMoRan in the third quarter worth $40,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Tuesday, April 9th. HSBC lifted their price target on Freeport-McMoRan from $39.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price objective on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.07.

Insider Transactions at Freeport-McMoRan

In other Freeport-McMoRan news, CEO Richard C. Adkerson sold 169,229 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 3,707,249 shares in the company, valued at approximately $187,438,509.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Freeport-McMoRan news, CEO Richard C. Adkerson sold 169,229 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $50.56, for a total transaction of $8,556,218.24. Following the completion of the sale, the chief executive officer now directly owns 3,707,249 shares in the company, valued at approximately $187,438,509.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Douglas N. Currault II sold 55,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 164,067 shares in the company, valued at $8,529,843.33. The disclosure for this sale can be found here. 0.78% of the stock is owned by corporate insiders.

Freeport-McMoRan Stock Down 0.1 %

Shares of NYSE FCX opened at $49.91 on Thursday. The company has a 50 day simple moving average of $45.21 and a 200 day simple moving average of $40.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.41. Freeport-McMoRan Inc. has a 1 year low of $32.83 and a 1 year high of $52.52. The firm has a market cap of $71.59 billion, a PE ratio of 44.17, a price-to-earnings-growth ratio of 8.09 and a beta of 2.02.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $6.32 billion for the quarter, compared to analyst estimates of $5.70 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. Freeport-McMoRan’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, research analysts forecast that Freeport-McMoRan Inc. will post 1.67 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. Freeport-McMoRan’s dividend payout ratio (DPR) is 26.55%.

Freeport-McMoRan Company 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.