Financial Sense Advisors Inc. Buys 64,003 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Financial Sense Advisors Inc. raised its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 527.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,127 shares of the natural resource company's stock after purchasing an additional 64,003 shares during the period. Freeport-McMoRan accounts for approximately 0.8% of Financial Sense Advisors Inc.'s portfolio, making the stock its 29th largest holding. Financial Sense Advisors Inc.'s holdings in Freeport-McMoRan were worth $2,882,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Freeport-McMoRan by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company's stock valued at $4,692,191,000 after purchasing an additional 642,776 shares during the period. Wellington Management Group LLP grew its holdings in Freeport-McMoRan by 237.4% during the fourth quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company's stock valued at $351,041,000 after purchasing an additional 6,486,011 shares during the period. Stratos Investment Management LLC grew its holdings in Freeport-McMoRan by 238.5% during the first quarter. Stratos Investment Management LLC now owns 64,519 shares of the natural resource company's stock valued at $2,443,000 after purchasing an additional 45,458 shares during the period. Community Bank N.A. grew its holdings in Freeport-McMoRan by 18.5% during the first quarter. Community Bank N.A. now owns 39,571 shares of the natural resource company's stock valued at $1,498,000 after purchasing an additional 6,188 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Freeport-McMoRan in the fourth quarter worth $2,768,000. 80.77% of the stock is owned by institutional investors.

Insider Transactions at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $40.02, for a total value of $343,531.68. Following the transaction, the chief accounting officer owned 48,333 shares in the company, valued at approximately $1,934,286.66. The trade was 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 this hyperlink. 0.75% of the stock is currently owned by company insiders.

Freeport-McMoRan Price Performance

FCX stock traded down $0.05 during mid-day trading on Friday, hitting $44.54. 6,868,845 shares of the stock were exchanged, compared to its average volume of 15,718,256. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.13. The business has a fifty day moving average price of $42.17 and a 200 day moving average price of $38.90. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $52.61. The stock has a market capitalization of $64.00 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 0.83 and a beta of 1.64.

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

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.35%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 24.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FCX shares. JPMorgan Chase & Co. raised their price target on Freeport-McMoRan from $42.00 to $56.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $50.00 price target (up from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. Stifel Canada raised Freeport-McMoRan to a "strong-buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada raised their price target on Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Finally, Wolfe Research raised Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target for the company in a report on Wednesday, April 16th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.00.

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.