Moody Lynn & Lieberson LLC Invests $3.22 Million in Freeport-McMoRan Inc. (NYSE:FCX)

Moody Lynn & Lieberson LLC acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 84,990 shares of the natural resource company's stock, valued at approximately $3,218,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Coppell Advisory Solutions LLC lifted its position in Freeport-McMoRan by 47.4% during the fourth 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 during the period. Palogic Value Management L.P. raised its holdings in shares of Freeport-McMoRan by 1.5% in the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock worth $772,000 after purchasing an additional 292 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Freeport-McMoRan by 0.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock worth $1,451,000 after purchasing an additional 309 shares during the period. Wolff Wiese Magana LLC raised its holdings in shares of Freeport-McMoRan by 38.2% in the 1st quarter. Wolff Wiese Magana LLC now owns 1,153 shares of the natural resource company's stock worth $44,000 after purchasing an additional 319 shares during the period. Finally, Inspire Advisors LLC raised its holdings in shares of Freeport-McMoRan by 2.6% in the 4th quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company's stock worth $494,000 after purchasing an additional 325 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FCX. Royal Bank Of Canada raised their price objective on Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price on the stock in a report on Wednesday, April 16th. Raymond James Financial reiterated an "outperform" rating and set a $52.00 target price on shares of Freeport-McMoRan in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their target price on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.27.

Freeport-McMoRan Stock Up 0.2%

NYSE FCX traded up $0.09 during mid-day trading on Friday, reaching $45.86. 7,607,321 shares of the company's stock traded hands, compared to its average volume of 13,479,098. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $52.61. The company has a fifty day simple moving average of $40.18 and a 200-day simple moving average of $38.29. 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 company has a market cap of $65.90 billion, a price-to-earnings ratio of 37.90, a P/E/G ratio of 0.87 and a beta of 1.64.

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, beating analysts' consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.03% and a net margin of 7.11%. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter last year, the firm earned $0.32 EPS. Freeport-McMoRan's quarterly revenue was down 9.4% on a year-over-year basis. As a group, 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. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.31%. Freeport-McMoRan's dividend payout ratio (DPR) is presently 24.79%.

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 transaction of $343,531.68. Following the completion of the sale, the chief accounting officer owned 48,333 shares in the company, valued at $1,934,286.66. This trade represents a 15.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is currently owned by company insiders.

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.