24,948 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Acquired by Liberty Wealth Management LLC

Key Points

• Liberty Wealth Management LLC has acquired 24,948 shares of Freeport-McMoRan Inc. (NYSE:FCX), valued at approximately $945,000, during the first quarter.
• Freeport-McMoRan recently reported a quarterly earnings per share (EPS) of $0.54, surpassing the consensus estimate of $0.45, with revenue up 14.5% year-over-year.
• The company announced a quarterly dividend of $0.15, leading to an annualized dividend of $0.60 and a dividend yield of 1.5%.

Liberty Wealth Management LLC acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 24,948 shares of the natural resource company's stock, valued at approximately $945,000.

Other large investors have also recently modified their holdings of the company. Stratos Investment Management LLC raised its stake in shares of Freeport-McMoRan by 238.5% during the 1st quarter. Stratos Investment Management LLC now owns 64,519 shares of the natural resource company's stock worth $2,443,000 after acquiring an additional 45,458 shares in the last quarter. Community Bank N.A. grew its position in Freeport-McMoRan by 18.5% during the 1st quarter. Community Bank N.A. now owns 39,571 shares of the natural resource company's stock worth $1,498,000 after purchasing an additional 6,188 shares during the last quarter. Arizona State Retirement System grew its position in Freeport-McMoRan by 2.2% during the 1st quarter. Arizona State Retirement System now owns 421,469 shares of the natural resource company's stock worth $15,957,000 after purchasing an additional 8,989 shares during the last quarter. Financial Sense Advisors Inc. grew its position in Freeport-McMoRan by 527.9% during the 1st quarter. Financial Sense Advisors Inc. now owns 76,127 shares of the natural resource company's stock worth $2,882,000 after purchasing an additional 64,003 shares during the last quarter. Finally, Anderson Hoagland & Co. grew its position in Freeport-McMoRan by 27.6% during the 1st quarter. Anderson Hoagland & Co. now owns 109,565 shares of the natural resource company's stock worth $4,148,000 after purchasing an additional 23,695 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Performance

FCX opened at $40.04 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21. The firm has a fifty day moving average price of $42.72 and a 200 day moving average price of $39.04. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $52.61. The stock has a market cap of $57.54 billion, a P/E ratio of 30.33, a P/E/G ratio of 0.75 and a beta of 1.63.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.09. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The firm had revenue of $7.58 billion during the quarter, compared to analysts' expectations of $6.85 billion. During the same period in the previous year, the business posted $0.46 EPS. The business's revenue was up 14.5% compared to the same quarter last year. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. Freeport-McMoRan's dividend payout ratio is currently 22.73%.

Wall Street Analyst Weigh In

FCX has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Jefferies Financial Group reissued a "buy" rating and set a $50.00 target price (up previously from $48.00) on shares of Freeport-McMoRan in a research report on Friday, April 25th. Citigroup boosted their target price on shares of Freeport-McMoRan from $44.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Raymond James Financial reissued an "outperform" rating and set a $52.00 target price on shares of Freeport-McMoRan in a research report on Friday, April 25th. Finally, Stifel Nicolaus initiated coverage on shares of Freeport-McMoRan in a research report on Wednesday, July 9th. They set a "buy" rating and a $56.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $51.00.

Insider Activity

In related news, CAO Ellie L. Mikes sold 8,584 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $40.02, for a total value of $343,531.68. Following the completion of the transaction, the chief accounting officer directly owned 48,333 shares in the company, valued at $1,934,286.66. The trade was a 15.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.79% of the stock is currently owned by corporate 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.

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