Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 74.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,017 shares of the natural resource company's stock after acquiring an additional 39,394 shares during the quarter. Foundations Investment Advisors LLC's holdings in Freeport-McMoRan were worth $3,697,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Freeport-McMoRan by 0.3% in the third quarter. Vanguard Group Inc. now owns 119,369,409 shares of the natural resource company's stock valued at $4,451,285,000 after acquiring an additional 305,912 shares during the period. Fisher Asset Management LLC raised its stake in shares of Freeport-McMoRan by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 55,710,695 shares of the natural resource company's stock worth $2,371,604,000 after buying an additional 1,030,451 shares during the last quarter. Northern Trust Corp raised its stake in shares of Freeport-McMoRan by 4.2% during the 3rd quarter. Northern Trust Corp now owns 17,756,034 shares of the natural resource company's stock worth $662,123,000 after buying an additional 709,114 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Freeport-McMoRan by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,727,376 shares of the natural resource company's stock worth $456,716,000 after buying an additional 90,663 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Freeport-McMoRan by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,732,045 shares of the natural resource company's stock worth $329,153,000 after buying an additional 223,960 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Insider Buying and Selling

In related news, CAO Stephen T. Higgins sold 80,000 shares of the business's stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $52.03, for a total transaction of $4,162,400.00. Following the transaction, the chief accounting officer now directly owns 104,377 shares of the company's stock, valued at approximately $5,430,735.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Stephen T. Higgins sold 42,767 shares of the business's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $50.35, for a total transaction of $2,153,318.45. Following the transaction, the chief accounting officer now directly owns 104,377 shares of the company's stock, valued at approximately $5,255,381.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Stephen T. Higgins sold 80,000 shares of the business's stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $52.03, for a total value of $4,162,400.00. Following the transaction, the chief accounting officer now directly owns 104,377 shares in the company, valued at $5,430,735.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 445,667 shares of company stock valued at $22,755,070. Corporate insiders own 0.78% of the company's stock.

Freeport-McMoRan Trading Up 0.2 %

Shares of NYSE:FCX traded up $0.13 during trading on Wednesday, reaching $53.61. 16,770,267 shares of the stock were exchanged, compared to its average volume of 14,263,558. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.41 and a current ratio of 2.35. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month high of $54.09. The firm has a market cap of $76.90 billion, a price-to-earnings ratio of 47.44, a price-to-earnings-growth ratio of 8.46 and a beta of 2.02. The firm's 50-day moving average price is $48.08 and its 200 day moving average price is $41.85.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The business had revenue of $6.32 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same quarter in the previous year, the business earned $0.52 EPS. The company's revenue for the quarter was up 17.3% on a year-over-year basis. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.66 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, April 12th. Freeport-McMoRan's payout ratio is currently 26.55%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FCX shares. HSBC lifted their price target on Freeport-McMoRan from $39.00 to $45.00 and gave the stock a "hold" rating in a research note on Tuesday, April 23rd. StockNews.com raised Freeport-McMoRan from a "hold" rating to a "buy" rating in a research note on Thursday, April 25th. UBS Group lifted their price target on Freeport-McMoRan from $41.00 to $54.00 and gave the stock a "neutral" rating in a research note on Tuesday. Scotiabank dropped their price objective on Freeport-McMoRan from $55.00 to $53.00 and set a "sector outperform" rating for the company in a research report on Wednesday, April 24th. Finally, Raymond James lifted their price objective on Freeport-McMoRan from $49.50 to $54.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $51.00.

Freeport-McMoRan 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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