Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by IFC Advisors LLC

IFC Advisors LLC boosted its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,468 shares of the natural resource company's stock after purchasing an additional 8,238 shares during the period. Freeport-McMoRan comprises approximately 0.7% of IFC Advisors LLC's holdings, making the stock its 28th largest position. IFC Advisors LLC's holdings in Freeport-McMoRan were worth $3,425,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FCX. Brighton Jones LLC lifted its position in Freeport-McMoRan by 24.2% in the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock valued at $564,000 after purchasing an additional 2,882 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of Freeport-McMoRan by 27.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company's stock valued at $20,565,000 after acquiring an additional 115,552 shares during the period. Independent Advisor Alliance lifted its position in shares of Freeport-McMoRan by 34.7% during the 4th quarter. Independent Advisor Alliance now owns 19,424 shares of the natural resource company's stock valued at $740,000 after acquiring an additional 5,006 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Freeport-McMoRan by 4.0% during the 4th quarter. Farther Finance Advisors LLC now owns 25,556 shares of the natural resource company's stock valued at $973,000 after acquiring an additional 975 shares during the period. Finally, Achmea Investment Management B.V. lifted its position in shares of Freeport-McMoRan by 787.4% during the 4th quarter. Achmea Investment Management B.V. now owns 58,426 shares of the natural resource company's stock valued at $2,225,000 after acquiring an additional 51,842 shares during the period. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $46.37 on Friday. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $52.61. The company has a current ratio of 2.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $66.64 billion, a price-to-earnings ratio of 38.32, a PEG ratio of 0.92 and a beta of 1.64. The firm's fifty day simple moving average is $41.09 and its 200 day simple moving average is $38.55.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 EPS 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 net margin of 7.11% and a return on equity of 7.03%. The firm's revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 EPS. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.29%. Freeport-McMoRan's payout ratio is currently 24.79%.

Insider Buying and Selling at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of the business's stock in a transaction dated 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 owned 48,333 shares of the company's stock, valued at approximately $1,934,286.66. The trade was a 15.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on FCX shares. Jefferies Financial Group reissued a "buy" rating and set a $50.00 price objective (up 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. Royal Bank Of Canada raised their price objective on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Bank of America reissued a "neutral" rating and set a $56.00 price objective on shares of Freeport-McMoRan in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Freeport-McMoRan from $42.00 to $56.00 and gave the stock an "overweight" rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $51.00.

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.

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