Jaffetilchin Investment Partners LLC Raises Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Jaffetilchin Investment Partners LLC increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 145.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 24,712 shares of the natural resource company's stock after acquiring an additional 14,661 shares during the period. Jaffetilchin Investment Partners LLC's holdings in Freeport-McMoRan were worth $936,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mizuho Bank Ltd. acquired a new position in shares of Freeport-McMoRan in the fourth quarter valued at $26,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Freeport-McMoRan in the fourth quarter worth about $29,000. Coppell Advisory Solutions LLC increased its stake in shares of Freeport-McMoRan by 47.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock valued at $32,000 after acquiring an additional 268 shares during the last quarter. Finally, City Holding Co. acquired a new position in shares of Freeport-McMoRan in the 1st quarter valued at $33,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock traded down $0.63 during trading on Friday, reaching $43.83. 13,658,987 shares of the company's stock were exchanged, compared to its average volume of 13,406,734. 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 company has a market cap of $62.99 billion, a P/E ratio of 36.23, a PEG ratio of 0.85 and a beta of 1.64. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $52.61. The firm's 50-day moving average price is $39.22 and its 200 day moving average price is $38.15.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data 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. Freeport-McMoRan had a return on equity of 7.03% and a net margin of 7.11%. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The firm's revenue was down 9.4% compared to the same quarter last year. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.37%. Freeport-McMoRan's payout ratio is currently 24.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FCX. Hsbc Global Res upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Royal Bank Of Canada increased their target price on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Raymond James Financial restated an "outperform" rating and set a $52.00 price objective on shares of Freeport-McMoRan in a research note on Friday, April 25th. JPMorgan Chase & Co. cut their price target on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Wall Street Zen downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.27.

Insiders Place Their Bets

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was 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 now owns 48,333 shares of the company's stock, valued at approximately $1,934,286.66. This trade represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.75% 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.