7,448 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Purchased by Advisor OS LLC

Key Points

• Advisor OS LLC has made a new investment of approximately $282,000 in Freeport-McMoRan Inc. by acquiring 7,448 shares during the first quarter.
• Freeport-McMoRan reported $0.54 earnings per share for the recent quarter, beating analysts' expectations of $0.45, with a notable revenue increase of 14.5% year-over-year.
• The company recently announced a quarterly dividend of $0.15 per share, reflecting an annual yield of 1.34% and a payout ratio of 24.79%.

Advisor OS LLC acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,448 shares of the natural resource company's stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Freeport-McMoRan by 21.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock valued at $1,214,203,000 after purchasing an additional 5,735,171 shares during the last quarter. Geode Capital Management LLC boosted its stake in Freeport-McMoRan by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company's stock worth $1,122,922,000 after acquiring an additional 688,240 shares during the last quarter. Franklin Resources Inc. boosted its stake in Freeport-McMoRan by 8.0% during the 4th quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company's stock worth $1,123,445,000 after acquiring an additional 2,191,926 shares during the last quarter. Capital World Investors boosted its stake in Freeport-McMoRan by 3.2% during the 4th quarter. Capital World Investors now owns 24,055,524 shares of the natural resource company's stock worth $916,037,000 after acquiring an additional 750,500 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Freeport-McMoRan by 13.7% during the 1st quarter. Bank of New York Mellon Corp now owns 21,942,063 shares of the natural resource company's stock worth $830,726,000 after acquiring an additional 2,642,810 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Bank of America reissued a "neutral" rating and set a $56.00 price objective on shares of Freeport-McMoRan in a research note on Wednesday, July 9th. Citigroup lifted their price target on shares of Freeport-McMoRan from $44.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada lifted their price target on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Wolfe Research raised shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target on the stock in a research note on Wednesday, April 16th. Finally, Wall Street Zen raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a research note on Saturday. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Freeport-McMoRan has a consensus rating of "Moderate Buy" and an average price target of $51.00.

Insider Buying and Selling

In other news, CAO Ellie L. Mikes sold 8,584 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer owned 48,333 shares of the company's stock, valued at approximately $1,934,286.66. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.75% of the stock is currently owned by company insiders.

Freeport-McMoRan Stock Up 0.7%

FCX traded up $0.29 during trading on Friday, reaching $44.87. 16,007,915 shares of the stock were exchanged, compared to its average volume of 15,985,843. The stock has a market cap of $64.48 billion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 0.81 and a beta of 1.64. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $52.61. The stock's 50 day moving average price is $42.43 and its two-hundred day moving average price is $38.98. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.13 and a current ratio of 2.47.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 EPS for the quarter, topping analysts' consensus estimates 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 earnings per share. The company's revenue for the quarter was up 14.5% compared to the same quarter last year. Equities analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.34%. Freeport-McMoRan's dividend payout ratio (DPR) is 22.73%.

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.