Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC boosted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 27.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 378,014 shares of the natural resource company's stock after buying an additional 80,289 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in Freeport-McMoRan were worth $14,312,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FCX. Brighton Jones LLC increased its holdings in Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock valued at $564,000 after buying an additional 2,882 shares during the period. Savant Capital LLC increased its position in shares of Freeport-McMoRan by 18.7% during the fourth quarter. Savant Capital LLC now owns 32,588 shares of the natural resource company's stock worth $1,241,000 after purchasing an additional 5,143 shares in the last quarter. Gladstone Institutional Advisory LLC increased its position in shares of Freeport-McMoRan by 110.9% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,428 shares of the natural resource company's stock worth $359,000 after purchasing an additional 4,958 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in shares of Freeport-McMoRan by 7.7% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 5,453 shares of the natural resource company's stock worth $208,000 after purchasing an additional 389 shares in the last quarter. Finally, Avestar Capital LLC increased its position in shares of Freeport-McMoRan by 15.7% during the fourth quarter. Avestar Capital LLC now owns 12,632 shares of the natural resource company's stock worth $481,000 after purchasing an additional 1,716 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

NYSE:FCX traded down $0.32 during mid-day trading on Friday, hitting $40.86. The company's stock had a trading volume of 9,721,377 shares, compared to its average volume of 13,401,527. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $52.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The stock has a market cap of $58.72 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 0.87 and a beta of 1.64. The business's fifty day moving average is $37.39 and its two-hundred day moving average is $38.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period in the prior year, the company earned $0.32 earnings per share. The firm's revenue was down 9.4% on a year-over-year basis. Analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's payout ratio is 24.79%.

Insider Buying and Selling at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of the stock in a transaction dated 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 now directly owns 48,333 shares of the company's stock, valued at $1,934,286.66. This represents a 15.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FCX. Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Hsbc Global Res raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a research report on Thursday, March 6th. Royal Bank of Canada boosted their price objective on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Finally, Wall Street Zen lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $47.82.

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.