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

Capital Advisors Inc. OK raised 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 filing with the Securities & Exchange Commission. The institutional investor owned 791,326 shares of the natural resource company's stock after acquiring an additional 9,031 shares during the period. Capital Advisors Inc. OK owned approximately 0.06% of Freeport-McMoRan worth $29,960,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FCX. Vanguard Group Inc. increased its position in shares of 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 valued at $4,692,191,000 after purchasing an additional 642,776 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Freeport-McMoRan by 21.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock valued at $1,214,203,000 after purchasing an additional 5,735,171 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Freeport-McMoRan by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company's stock valued at $1,122,922,000 after purchasing an additional 688,240 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Freeport-McMoRan by 8.0% during the 4th quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company's stock valued at $1,123,445,000 after purchasing an additional 2,191,926 shares during the last quarter. Finally, Capital World Investors increased its position in shares of Freeport-McMoRan by 3.2% during the 4th quarter. Capital World Investors now owns 24,055,524 shares of the natural resource company's stock valued at $916,037,000 after purchasing an additional 750,500 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Trading Down 1.7%

Shares of FCX stock traded down $0.80 during trading hours on Wednesday, reaching $45.47. The company's stock had a trading volume of 24,261,997 shares, compared to its average volume of 13,707,992. The stock has a market capitalization of $65.34 billion, a P/E ratio of 37.58, a P/E/G ratio of 0.88 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 $40.70 and its 200 day simple moving average is $38.44. 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 Dividend Announcement

The firm also recently disclosed 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 1.32%. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

Insider Buying and Selling at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 48,333 shares in the company, valued at $1,934,286.66. The trade was a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on FCX. Royal Bank Of Canada increased their price objective on Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. increased their price objective on Freeport-McMoRan from $42.00 to $56.00 and gave the company an "overweight" rating in a research report on Wednesday. Jefferies Financial Group reiterated a "buy" rating and set a $50.00 price objective (up from $48.00) on shares of Freeport-McMoRan in a research report on Friday, April 25th. Wall Street Zen lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Finally, Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $50.64.

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.