Sapient Capital LLC Invests $200,000 in Freeport-McMoRan Inc. (NYSE:FCX)

Sapient Capital LLC bought a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,707 shares of the natural resource company’s stock, valued at approximately $200,000.

A number of other hedge funds have also recently bought and sold shares of the company. CM Management LLC raised its holdings in shares of Freeport-McMoRan by 80.0% in the 3rd quarter. CM Management LLC now owns 36,000 shares of the natural resource company’s stock worth $1,342,000 after purchasing an additional 16,000 shares in the last quarter. Signature Estate & Investment Advisors LLC increased its holdings in shares of Freeport-McMoRan by 6.4% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock valued at $14,726,000 after buying an additional 20,894 shares in the last quarter. Cadinha & Co. LLC lifted its position in shares of Freeport-McMoRan by 59.0% during the 4th quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company’s stock valued at $27,572,000 after acquiring an additional 240,340 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Freeport-McMoRan by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company’s stock worth $279,977,000 after acquiring an additional 102,466 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd grew its holdings in shares of Freeport-McMoRan by 57.4% in the 3rd quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock worth $201,039,000 after acquiring an additional 1,965,987 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $51.39 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $52.52. The company’s fifty day moving average is $46.38 and its 200-day moving average is $41.14. The firm has a market cap of $73.71 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 8.19 and a beta of 2.02.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm 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 business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. Equities analysts expect that Freeport-McMoRan Inc. will post 1.66 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, April 12th. This represents a $0.60 annualized dividend and a yield of 1.17%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 price target on shares of Freeport-McMoRan in a research note on Thursday, January 25th. Raymond James boosted their price target on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. decreased 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 note on Wednesday, April 24th. HSBC boosted their target price on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Finally, Argus lifted their price target on Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.07.

Insider Activity

In related news, CEO Richard C. Adkerson sold 54,771 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $50.78, for a total transaction of $2,781,271.38. Following the completion of the sale, the chief executive officer now directly owns 3,652,478 shares of the company’s stock, valued at approximately $185,472,832.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 42,767 shares of Freeport-McMoRan stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $50.35, for a total value of $2,153,318.45. Following the transaction, the chief accounting officer now directly owns 104,377 shares of the company’s stock, valued at approximately $5,255,381.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard C. Adkerson sold 54,771 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $50.78, for a total value of $2,781,271.38. Following the completion of the sale, the chief executive officer now directly owns 3,652,478 shares of the company’s stock, valued at $185,472,832.84. The disclosure for this sale can be found here. Insiders have sold a total of 365,667 shares of company stock valued at $18,592,670 over the last 90 days. 0.78% of the stock is currently owned by company insiders.

About Freeport-McMoRan

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.