Quaero Capital S.A. Acquires Shares of 20,000 Freeport-McMoRan Inc. (NYSE:FCX)

Quaero Capital S.A. acquired a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCXGet Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,000 shares of the natural resource company’s stock, valued at approximately $835,000.

Other institutional investors have also recently made changes to their positions in the company. Tompkins Financial Corp lifted its holdings in shares of Freeport-McMoRan by 195.5% in the fourth quarter. Tompkins Financial Corp now owns 591 shares of the natural resource company’s stock worth $25,000 after buying an additional 391 shares in the last quarter. Key Financial Inc lifted its holdings in shares of Freeport-McMoRan by 526.0% in the fourth quarter. Key Financial Inc now owns 626 shares of the natural resource company’s stock worth $26,000 after buying an additional 526 shares in the last quarter. JCIC Asset Management Inc. lifted its holdings in shares of Freeport-McMoRan by 1,190.0% in the fourth quarter. JCIC Asset Management Inc. now owns 645 shares of the natural resource company’s stock worth $27,000 after buying an additional 595 shares in the last quarter. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in shares of Freeport-McMoRan in the fourth quarter worth about $28,000. Finally, D Orazio & Associates Inc. increased its position in shares of Freeport-McMoRan by 73.8% in the third quarter. D Orazio & Associates Inc. now owns 869 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 369 shares during the last quarter. 77.37% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the stock. BNP Paribas cut shares of Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a research report on Tuesday, April 5th. Jefferies Financial Group upped their price objective on shares of Freeport-McMoRan from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, March 24th. BMO Capital Markets decreased their price objective on shares of Freeport-McMoRan from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, April 22nd. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Tuesday, April 5th. Finally, Barclays upped their price objective on shares of Freeport-McMoRan from $28.00 to $29.00 in a research report on Thursday, April 21st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.57.

In other news, CFO Kathleen L. Quirk sold 80,000 shares of the business’s stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $44.02, for a total transaction of $3,521,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Hugh Grant bought 12,300 shares of the company’s stock in a transaction dated Monday, April 25th. The shares were acquired at an average price of $40.75 per share, for a total transaction of $501,225.00. Following the acquisition, the director now owns 15,776 shares in the company, valued at approximately $642,872. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

NYSE:FCX traded up $0.70 during trading hours on Friday, hitting $35.04. The company had a trading volume of 18,987,965 shares, compared to its average volume of 19,955,252. The company has a market capitalization of $50.98 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.32 and a beta of 2.01. The stock has a 50-day moving average price of $45.64 and a 200 day moving average price of $42.38. Freeport-McMoRan Inc. has a 52 week low of $30.02 and a 52 week high of $51.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.37 and a quick ratio of 1.68.

Freeport-McMoRan (NYSE:FCXGet Rating) last released its quarterly earnings results on Thursday, April 21st. The natural resource company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.13. The business had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.29 billion. Freeport-McMoRan had a net margin of 20.79% and a return on equity of 24.06%. The firm’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 earnings per share. Analysts anticipate that Freeport-McMoRan Inc. will post 3.83 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Investors of record on Thursday, April 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.71%. The ex-dividend date was Wednesday, April 13th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 8.70%.

Freeport-McMoRan Profile (Get Rating)

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

Further Reading

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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