Advisors Preferred LLC Takes $1.72 Million Position in Freeport-McMoRan Inc. $FCX

Advisors Preferred LLC bought a new stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 28,136 shares of the natural resource company's stock, valued at approximately $1,715,000.

Several other large investors also recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL purchased a new position in Freeport-McMoRan in the fourth quarter worth about $25,000. Steph & Co. raised its position in Freeport-McMoRan by 43.7% during the first quarter. Steph & Co. now owns 493 shares of the natural resource company's stock valued at $29,000 after purchasing an additional 150 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of Freeport-McMoRan in the 1st quarter valued at approximately $29,000. Kemnay Advisory Services Inc. bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $29,000. Finally, SHP Wealth Management purchased a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $30,000. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $71.18 on Friday. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $72.28. The stock has a market capitalization of $102.22 billion, a price-to-earnings ratio of 35.06, a P/E/G ratio of 0.69 and a beta of 1.37. The stock has a fifty day simple moving average of $64.38 and a two-hundred day simple moving average of $63.33. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.62 by $0.12. The firm had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.The business's revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. On average, analysts predict that Freeport-McMoRan Inc. will post 2.79 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan's dividend payout ratio (DPR) is 14.78%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. BNP Paribas Exane increased their target price on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the company an "outperform" rating in a research note on Thursday, June 18th. Bank of America lifted their price target on shares of Freeport-McMoRan from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Scotiabank upped their price target on shares of Freeport-McMoRan from $67.00 to $77.00 and gave the company a "sector outperform" rating in a report on Monday, June 15th. CICC Research reduced their price objective on shares of Freeport-McMoRan from $64.40 to $63.40 and set an "outperform" rating on the stock in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company raised their price objective on shares of Freeport-McMoRan from $68.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $70.27.

Insider Transactions at Freeport-McMoRan

In other news, CAO Stephen T. Higgins sold 14,277 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total value of $992,251.50. Following the completion of the sale, the chief accounting officer owned 54,618 shares of the company's stock, valued at approximately $3,795,951. This represents a 20.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ellie L. Mikes sold 4,773 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $70.00, for a total transaction of $334,110.00. Following the transaction, the chief accounting officer owned 36,000 shares in the company, valued at approximately $2,520,000. This represents a 11.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,600 shares of company stock worth $1,802,012 in the last three months. Insiders own 0.73% of the company's stock.

About Freeport-McMoRan

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.

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