J Hagan Capital Inc. Takes $245,000 Position in Freeport-McMoRan Inc. (NYSE:FCX)

J Hagan Capital Inc. purchased a new position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,433 shares of the natural resource company's stock, valued at approximately $245,000.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock worth $564,000 after purchasing an additional 2,882 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of Freeport-McMoRan by 27.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company's stock worth $20,565,000 after purchasing an additional 115,552 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Freeport-McMoRan by 11.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 56,066 shares of the natural resource company's stock worth $2,135,000 after purchasing an additional 5,779 shares during the period. Assetmark Inc. lifted its holdings in shares of Freeport-McMoRan by 12.4% during the fourth quarter. Assetmark Inc. now owns 76,866 shares of the natural resource company's stock worth $2,927,000 after purchasing an additional 8,472 shares during the period. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in shares of Freeport-McMoRan by 54.4% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 7,931 shares of the natural resource company's stock worth $302,000 after purchasing an additional 2,794 shares during the period. Institutional investors and hedge funds own 80.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FCX. UBS Group decreased their target price on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group reaffirmed a "buy" rating and set a $50.00 target price (up previously from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. JPMorgan Chase & Co. lowered their price objective on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Scotiabank raised shares of Freeport-McMoRan from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the stock from $43.00 to $48.00 in a research note on Monday, June 16th. Finally, Dbs Bank raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Freeport-McMoRan presently has an average rating of "Moderate Buy" and a consensus target price of $48.27.

Insider Buying and Selling at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 8,584 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $40.02, for a total transaction of $343,531.68. Following the sale, the chief accounting officer directly owned 48,333 shares in the company, valued at approximately $1,934,286.66. This represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.75% of the company's stock.

Freeport-McMoRan Price Performance

FCX traded down $0.69 on Monday, reaching $45.11. 19,619,671 shares of the company's stock were exchanged, compared to its average volume of 13,503,683. The stock has a market cap of $64.83 billion, a PE ratio of 37.28, a P/E/G ratio of 0.87 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.32 and a quick ratio of 1.13. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $52.61. The stock's fifty day moving average price is $40.18 and its 200-day moving average price is $38.29.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $5.36 billion. Freeport-McMoRan had a return on equity of 7.03% and a net margin of 7.11%. The business's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. Freeport-McMoRan's payout ratio is 24.79%.

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.