Quattro Financial Advisors LLC Acquires 15,987 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Quattro Financial Advisors LLC grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 32.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,787 shares of the natural resource company's stock after acquiring an additional 15,987 shares during the period. Quattro Financial Advisors LLC's holdings in Freeport-McMoRan were worth $2,491,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC boosted its stake in Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock worth $564,000 after purchasing an additional 2,882 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of Freeport-McMoRan by 27.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company's stock worth $20,565,000 after buying an additional 115,552 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Freeport-McMoRan by 28.2% during the fourth quarter. Jones Financial Companies Lllp now owns 30,190 shares of the natural resource company's stock worth $1,150,000 after acquiring an additional 6,639 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Freeport-McMoRan during the fourth quarter worth $194,000. Finally, Steward Partners Investment Advisory LLC grew its stake in Freeport-McMoRan by 11.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 56,066 shares of the natural resource company's stock valued at $2,135,000 after acquiring an additional 5,779 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $45.86 on Friday. The stock has a market cap of $65.90 billion, a price-to-earnings ratio of 37.90, a price-to-earnings-growth ratio of 0.87 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 stock has a 50 day moving average price of $40.18 and a 200-day moving average price of $38.30. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $52.61.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period last year, the company earned $0.32 earnings per share. Freeport-McMoRan's revenue was down 9.4% on a year-over-year basis. Equities analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors 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 dividend yield of 1.31%. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

Insider Buying and Selling

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were 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 owned 48,333 shares of the company's stock, valued at $1,934,286.66. This trade represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on FCX shares. Scotiabank upgraded shares of Freeport-McMoRan from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the stock from $43.00 to $48.00 in a research note on Monday, June 16th. Royal Bank Of Canada lifted their target price on Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Jefferies Financial Group reiterated a "buy" rating and issued a $50.00 target price (up from $48.00) on shares of Freeport-McMoRan in a research report on Friday, April 25th. Wolfe Research raised Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target for the company in a research note on Wednesday, April 16th. Finally, Wall Street Zen downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Four equities research 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $48.27.

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.

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