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

Capital Advisors Inc. OK increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Madison Investment Advisors LLC purchased a new position in Freeport-McMoRan in the fourth quarter valued at about $3,388,000. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 642,776 shares in the last quarter. Wellington Management Group LLP lifted its holdings 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 purchasing an additional 6,486,011 shares in the last quarter. Community Bank N.A. lifted its holdings in Freeport-McMoRan by 18.5% during the 1st quarter. Community Bank N.A. now owns 39,571 shares of the natural resource company's stock worth $1,498,000 after purchasing an additional 6,188 shares in the last quarter. Finally, PGGM Investments increased its stake in Freeport-McMoRan by 220.3% in 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.

Freeport-McMoRan Trading Up 2.7%

Shares of FCX stock traded up $1.21 during trading hours on Tuesday, reaching $46.34. The company's stock had a trading volume of 44,971,011 shares, compared to its average volume of 13,648,278. The stock has a market capitalization of $66.59 billion, a P/E ratio of 38.30, a P/E/G ratio of 0.87 and a beta of 1.64. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $52.61. The firm's fifty day simple moving average is $40.33 and its 200 day simple moving average is $38.34. The company has a current ratio of 2.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a return on equity of 7.03% and a net margin of 7.11%. The business's quarterly revenue was down 9.4% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.29%. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

Analyst Ratings Changes

FCX has been the topic of several research reports. UBS Group lowered their price objective on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Wolfe Research raised shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective for the company in a research note on Wednesday, April 16th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $50.00 price objective (up previously from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Wall Street Zen cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Finally, 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 research report on Wednesday, June 4th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $48.25.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $40.02, for a total transaction of $343,531.68. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.79% of the company's stock.

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.