Capital Advisors Inc. OK Acquires 9,031 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Capital Advisors Inc. OK boosted its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 791,326 shares of the natural resource company's stock after buying an additional 9,031 shares during the quarter. Capital Advisors Inc. OK owned 0.06% of Freeport-McMoRan worth $29,960,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mizuho Bank Ltd. acquired a new position in Freeport-McMoRan in the fourth quarter worth approximately $26,000. Coppell Advisory Solutions LLC grew its position in Freeport-McMoRan by 47.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock worth $32,000 after buying an additional 268 shares during the last quarter. City Holding Co. acquired a new position in Freeport-McMoRan in the first quarter worth approximately $33,000. Bernard Wealth Management Corp. acquired a new position in Freeport-McMoRan in the fourth quarter worth approximately $35,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Freeport-McMoRan in the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on FCX. Wolfe Research raised shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price on the stock in a research note on Wednesday, April 16th. Royal Bank Of Canada boosted their target price 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. Hsbc Global Res raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. UBS Group cut their target price on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, Raymond James Financial reissued an "outperform" rating and set a $52.00 target price on shares of Freeport-McMoRan in a research note on Friday, April 25th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.64.

Insider Transactions at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 8,584 shares of the company's stock in a transaction on 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 directly owned 48,333 shares in the company, valued at approximately $1,934,286.66. This represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.75% of the company's stock.

Freeport-McMoRan Stock Up 3.5%

Shares of Freeport-McMoRan stock traded up $1.60 on Thursday, hitting $47.19. 18,638,560 shares of the company traded hands, compared to its average volume of 13,727,792. The company has a 50-day moving average price of $40.70 and a 200 day moving average price of $38.44. The company has a quick ratio of 1.13, a current ratio of 2.32 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $52.61. The company has a market cap of $67.82 billion, a PE ratio of 39.00, a PEG ratio of 0.88 and a beta of 1.64.

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 7.11% and a return on equity of 7.03%. The business had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $5.36 billion. During the same period in the previous year, the company posted $0.32 EPS. Freeport-McMoRan's revenue was down 9.4% on a year-over-year basis. Sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.27%. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

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.