TruWealth Advisors LLC Boosts Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

TruWealth Advisors LLC increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 70.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 458,562 shares of the natural resource company's stock after purchasing an additional 189,923 shares during the quarter. TruWealth Advisors LLC's holdings in Freeport-McMoRan were worth $17,361,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FCX. Asset Planning Inc bought a new stake in Freeport-McMoRan in the fourth quarter valued at about $25,000. Mizuho Bank Ltd. acquired a new position in Freeport-McMoRan during the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan in the fourth quarter valued at approximately $27,000. Roxbury Financial LLC bought a new stake in Freeport-McMoRan in the fourth quarter valued at approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Freeport-McMoRan in the fourth quarter worth $29,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

NYSE FCX traded up $0.80 during trading hours on Thursday, reaching $41.66. The company's stock had a trading volume of 17,268,790 shares, compared to its average volume of 13,423,565. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $52.61. 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 $59.87 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 0.87 and a beta of 1.64. The firm's 50-day moving average price is $36.30 and its 200-day moving average price is $38.39.

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. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Freeport-McMoRan's quarterly revenue was down 9.4% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.44%. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

Insider Transactions at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the business's 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 sale, the chief accounting officer now owns 48,333 shares of the company's stock, valued at approximately $1,934,286.66. The trade was a 15.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on FCX shares. Hsbc Global Res upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Royal Bank of Canada boosted their price objective on Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a research report on Wednesday. Wall Street Zen downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Jefferies Financial Group reiterated a "buy" rating and issued a $50.00 price target (up previously from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 target price for the company in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.