Krilogy Financial LLC Purchases 19,498 Shares of Freeport-McMoRan Inc. $FCX

Key Points

• Krilogy Financial LLC increased its stake in Freeport‑McMoRan by 76% in Q4, buying 19,498 shares to hold 45,141 shares worth about $2.29 million.
• Freeport reported an EPS beat in the latest quarter ($0.47 vs. $0.28 est.) with revenue of $5.63 billion, and declared a quarterly dividend of $0.075 (annualized $0.30, ~0.4% yield).
• Significant insider selling occurred recently (EVP sold 75,000 shares and the chairman sold 152,960 shares on Feb 11; insiders sold 565,145 shares in the past 90 days), while institutional ownership remains high at 80.77% and the consensus rating is a Moderate Buy with an average price target of $66.26.

Krilogy Financial LLC raised its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 76.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 45,141 shares of the natural resource company's stock after acquiring an additional 19,498 shares during the period. Krilogy Financial LLC's holdings in Freeport-McMoRan were worth $2,293,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of FCX. Earned Wealth Advisors LLC increased its position in shares of Freeport-McMoRan by 62.9% during the 4th quarter. Earned Wealth Advisors LLC now owns 9,858 shares of the natural resource company's stock worth $501,000 after purchasing an additional 3,806 shares during the last quarter. Bayforest Capital Ltd increased its position in shares of Freeport-McMoRan by 64.1% during the 4th quarter. Bayforest Capital Ltd now owns 2,787 shares of the natural resource company's stock worth $142,000 after purchasing an additional 1,089 shares during the last quarter. Elevated Capital Advisors LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $65,000. First Horizon Corp increased its position in shares of Freeport-McMoRan by 89.6% during the 4th quarter. First Horizon Corp now owns 2,480 shares of the natural resource company's stock worth $126,000 after purchasing an additional 1,172 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in shares of Freeport-McMoRan by 2.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 54,694 shares of the natural resource company's stock worth $2,778,000 after purchasing an additional 1,334 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Trading Down 0.1%

Shares of Freeport-McMoRan stock opened at $70.14 on Tuesday. The business has a fifty day simple moving average of $62.33 and a two-hundred day simple moving average of $53.27. Freeport-McMoRan Inc. has a 1 year low of $32.12 and a 1 year high of $70.96. The company has a market capitalization of $100.80 billion, a price-to-earnings ratio of 46.45, a P/E/G ratio of 0.80 and a beta of 1.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.19. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter last year, the firm posted $0.31 EPS. The company's quarterly revenue was down 1.5% on a year-over-year basis. Research analysts forecast that Freeport-McMoRan Inc. will post 2.55 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $0.30 annualized dividend and a yield of 0.4%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 19.87%.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, EVP Douglas N. Currault II sold 75,000 shares of the firm's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total transaction of $4,839,000.00. Following the completion of the sale, the executive vice president owned 219,181 shares of the company's stock, valued at $14,141,558.12. This trade represents a 25.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard C. Adkerson sold 152,960 shares of the firm's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $64.65, for a total value of $9,888,864.00. Following the sale, the chairman directly owned 3,356,159 shares of the company's stock, valued at $216,975,679.35. This represents a 4.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 565,145 shares of company stock worth $35,839,918. 0.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup boosted their price target on Freeport-McMoRan from $48.00 to $67.00 and gave the stock a "buy" rating in a research report on Monday, January 12th. UBS Group lowered their price target on Freeport-McMoRan from $70.00 to $66.00 and set a "buy" rating on the stock in a research report on Friday, March 27th. Wells Fargo & Company boosted their price target on Freeport-McMoRan from $64.00 to $77.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. BMO Capital Markets boosted their price target on Freeport-McMoRan from $55.00 to $68.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Freeport-McMoRan in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $66.26.

About Freeport-McMoRan

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.

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