Twelve Points Wealth Management LLC Has $2.04 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Twelve Points Wealth Management LLC lifted its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 21.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,802 shares of the natural resource company's stock after buying an additional 9,489 shares during the quarter. Twelve Points Wealth Management LLC's holdings in Freeport-McMoRan were worth $2,037,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Mizuho Bank Ltd. bought a new stake in Freeport-McMoRan during the 4th quarter worth about $26,000. Coppell Advisory Solutions LLC increased its stake in shares of 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 during the last quarter. City Holding Co. bought a new stake in shares of Freeport-McMoRan in the 1st quarter valued at about $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $35,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $40,000. 80.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on FCX shares. Royal Bank Of Canada upped their price target on Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Hsbc Global Res raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Citigroup upped their price target on Freeport-McMoRan from $44.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday. Wall Street Zen cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Finally, Bank of America reaffirmed a "neutral" rating and issued a $56.00 price target on shares of Freeport-McMoRan in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.00.

Freeport-McMoRan Stock Down 1.8%

NYSE FCX traded down $0.84 during trading hours on Friday, reaching $46.37. 17,116,883 shares of the company's stock were exchanged, compared to its average volume of 13,804,602. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $52.61. 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 company's 50-day moving average is $41.09 and its two-hundred day moving average is $38.54. The company has a market capitalization of $66.64 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 0.91 and a beta of 1.64.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly 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 during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. The business's revenue was down 9.4% on a year-over-year basis. On average, analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.29%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 24.79%.

Insiders Place Their Bets

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer 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 SEC, which is available through this link. 0.75% of the stock is currently owned by company insiders.

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.