180 Wealth Advisors LLC Buys 16,270 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

180 Wealth Advisors LLC grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 27.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 75,384 shares of the natural resource company's stock after purchasing an additional 16,270 shares during the period. 180 Wealth Advisors LLC's holdings in Freeport-McMoRan were worth $2,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Madison Investment Advisors LLC bought a new stake in Freeport-McMoRan during the 4th quarter worth $3,388,000. Vanguard Group Inc. grew its position in Freeport-McMoRan by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company's stock worth $4,692,191,000 after acquiring an additional 642,776 shares during the last quarter. Wellington Management Group LLP grew its position in Freeport-McMoRan by 237.4% during the 4th quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company's stock worth $351,041,000 after acquiring an additional 6,486,011 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Freeport-McMoRan by 5.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 159,536 shares of the natural resource company's stock worth $6,075,000 after acquiring an additional 8,195 shares during the last quarter. Finally, PGGM Investments grew its position in Freeport-McMoRan by 220.3% during the 4th quarter. PGGM Investments now owns 40,467 shares of the natural resource company's stock worth $1,541,000 after acquiring an additional 27,834 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Insider Activity at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 8,584 shares of the business's 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 completion of the sale, the chief accounting officer now directly owns 48,333 shares of the company's stock, valued at $1,934,286.66. The trade was a 15.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FCX shares. Wall Street Zen lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. UBS Group cut their target price on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Raymond James reaffirmed an "outperform" rating and set a $52.00 target price on shares of Freeport-McMoRan in a report on Friday, April 25th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Finally, Royal Bank of Canada lifted their target price on Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.82.

Freeport-McMoRan Trading Up 3.8%

Shares of NYSE:FCX traded up $1.55 during midday trading on Thursday, reaching $42.41. The company's stock had a trading volume of 10,785,981 shares, compared to its average volume of 13,399,228. The firm has a market capitalization of $60.95 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 0.87 and a beta of 1.64. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm has a 50 day moving average price of $36.30 and a two-hundred day moving average price of $38.39. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $52.61.

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

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan's payout ratio is 24.79%.

Freeport-McMoRan Company 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.