Strategic Blueprint LLC Has $3.33 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Strategic Blueprint LLC lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 65.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,852 shares of the natural resource company's stock after buying an additional 34,750 shares during the quarter. Strategic Blueprint LLC's holdings in Freeport-McMoRan were worth $3,326,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mizuho Bank Ltd. acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at $27,000. Coppell Advisory Solutions LLC raised its holdings in Freeport-McMoRan by 47.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock valued at $32,000 after acquiring an additional 268 shares in the last quarter. City Holding Co. acquired a new position in Freeport-McMoRan in the 1st quarter valued at $33,000. Finally, Bernard Wealth Management Corp. acquired a new position in Freeport-McMoRan in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Analysts Set New Price Targets

FCX has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Wall Street Zen cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Scotiabank raised Freeport-McMoRan from a "sector perform" rating to a "sector outperform" rating and upped their target price for the stock from $43.00 to $48.00 in a report on Monday, June 16th. Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Finally, UBS Group lowered their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and an average target price of $48.27.

Freeport-McMoRan Stock Up 0.2%

Shares of NYSE:FCX 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 PEG ratio of 0.87 and a beta of 1.64. The company has a quick ratio of 1.13, a current ratio of 2.32 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $52.61. The business's 50 day moving average is $40.18 and its 200 day moving average is $38.30.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share 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 firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The company's revenue was down 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.31%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 24.79%.

Insider Buying and Selling at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $40.02, for a total transaction of $343,531.68. Following the completion of the transaction, the chief accounting officer directly owned 48,333 shares of the company's stock, valued at $1,934,286.66. This represents a 15.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.75% of the company's stock.

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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