Simon Quick Advisors LLC Purchases Shares of 6,720 Freeport-McMoRan Inc. (NYSE:FCX)

Simon Quick Advisors LLC purchased a new stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 6,720 shares of the natural resource company's stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mizuho Bank Ltd. acquired a new stake in Freeport-McMoRan in the 4th quarter valued at $26,000. Vision Financial Markets LLC acquired a new stake in Freeport-McMoRan in the 4th quarter valued at $27,000. Roxbury Financial LLC acquired a new stake in Freeport-McMoRan in the 4th quarter valued at $28,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth about $29,000. Finally, Coppell Advisory Solutions LLC increased its stake in shares of Freeport-McMoRan by 47.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock worth $32,000 after purchasing an additional 268 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the business'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 now owns 48,333 shares of the company's stock, valued at $1,934,286.66. The trade was a 15.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.75% of the company's stock.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $40.86 on Monday. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $58.72 billion, a P/E ratio of 31.68, a P/E/G ratio of 0.87 and a beta of 1.64. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $52.61. The firm has a 50-day moving average price of $37.39 and a two-hundred day moving average price of $38.20.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The business's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. 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 disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FCX. UBS Group lowered their price objective on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Jefferies Financial Group restated a "buy" rating and set a $50.00 price objective (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. JPMorgan Chase & Co. lowered their price objective on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Wall Street Zen lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Finally, Dbs Bank upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.82.

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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