Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by Quadrant Private Wealth Management LLC

Quadrant Private Wealth Management LLC lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 310.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 59,548 shares of the natural resource company's stock after acquiring an additional 45,036 shares during the quarter. Quadrant Private Wealth Management LLC's holdings in Freeport-McMoRan were worth $2,254,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FCX. Mizuho Bank Ltd. acquired a new stake in Freeport-McMoRan during the 4th quarter worth approximately $26,000. Coppell Advisory Solutions LLC lifted its holdings in Freeport-McMoRan by 47.4% during the 4th 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 in the last quarter. City Holding Co. acquired a new stake in Freeport-McMoRan during the 1st quarter worth approximately $33,000. Bernard Wealth Management Corp. acquired a new stake in Freeport-McMoRan during the 4th quarter worth approximately $35,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Freeport-McMoRan during the 4th quarter worth approximately $40,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were 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. This represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.79% of the stock is owned by corporate insiders.

Freeport-McMoRan Stock Up 1.7%

Shares of NYSE FCX traded up $0.76 during midday trading on Tuesday, reaching $45.95. 4,475,638 shares of the company's stock were exchanged, compared to its average volume of 13,791,866. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $52.61. The stock has a market capitalization of $66.03 billion, a PE ratio of 37.92, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.13 and a current ratio of 2.32. The business's fifty day moving average price is $41.81 and its two-hundred day moving average price is $38.76.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The firm had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $5.36 billion. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. The firm's quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. Analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 1.31%. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

Wall Street Analysts Forecast Growth

FCX has been the topic of a number of recent analyst reports. 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 report on Wednesday, April 16th. Morgan Stanley downgraded shares of Freeport-McMoRan from an "overweight" rating to an "equal weight" rating and increased their target price for the company from $45.00 to $54.00 in a research report on Tuesday, July 15th. Raymond James Financial reaffirmed an "outperform" rating and issued a $52.00 target price on shares of Freeport-McMoRan in a research report 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, Stifel Nicolaus set a $56.00 price target on shares of Freeport-McMoRan and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $50.71.

About Freeport-McMoRan

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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