New Age Alpha Advisors LLC Acquires 10,776 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

New Age Alpha Advisors LLC grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 18.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,763 shares of the natural resource company's stock after buying an additional 10,776 shares during the quarter. New Age Alpha Advisors LLC's holdings in Freeport-McMoRan were worth $2,641,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Freeport-McMoRan by 21.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock worth $1,214,203,000 after acquiring an additional 5,735,171 shares in the last quarter. Capital World Investors raised its stake in shares of Freeport-McMoRan by 3.2% during the 4th quarter. Capital World Investors now owns 24,055,524 shares of the natural resource company's stock worth $916,037,000 after purchasing an additional 750,500 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Freeport-McMoRan by 13.7% in the 1st quarter. Bank of New York Mellon Corp now owns 21,942,063 shares of the natural resource company's stock valued at $830,726,000 after buying an additional 2,642,810 shares during the last quarter. Northern Trust Corp grew its stake in shares of Freeport-McMoRan by 8.8% in the fourth quarter. Northern Trust Corp now owns 16,441,112 shares of the natural resource company's stock valued at $626,078,000 after buying an additional 1,335,181 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Freeport-McMoRan by 9.3% in the fourth quarter. Invesco Ltd. now owns 10,175,580 shares of the natural resource company's stock valued at $387,486,000 after buying an additional 869,691 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX opened at $39.85 on Thursday. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $52.61. The company's 50 day moving average price is $42.78 and its two-hundred day moving average price is $39.05. The firm has a market cap of $57.27 billion, a PE ratio of 30.19, a PEG ratio of 0.75 and a beta of 1.63. The company has a quick ratio of 1.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.30.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.09. The business had revenue of $7.58 billion for the quarter, compared to the consensus estimate of $6.85 billion. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 earnings per share. Equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.5%. Freeport-McMoRan's dividend payout ratio is currently 22.73%.

Insider Buying and Selling

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the company's stock in a transaction 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 directly owned 48,333 shares in the company, valued at $1,934,286.66. This represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FCX has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price target on shares of Freeport-McMoRan from $55.00 to $54.00 and set an "outperform" rating for the company in a research note on Thursday, July 24th. Morgan Stanley cut Freeport-McMoRan from an "overweight" rating to an "equal weight" rating and lifted their price target for the stock from $45.00 to $54.00 in a report on Tuesday, July 15th. Royal Bank Of Canada boosted their price target on Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Stifel Canada raised Freeport-McMoRan to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Citigroup lifted their target price on Freeport-McMoRan from $44.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Eight research 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $51.00.

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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