Clarius Group LLC Acquires 1,366 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Clarius Group LLC lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 14.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,726 shares of the natural resource company’s stock after purchasing an additional 1,366 shares during the quarter. Clarius Group LLC’s holdings in Freeport-McMoRan were worth $353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hudock Inc. increased its holdings in shares of Freeport-McMoRan by 76.5% during the first quarter. Hudock Inc. now owns 962 shares of the natural resource company’s stock worth $31,000 after purchasing an additional 417 shares during the period. JustInvest LLC increased its stake in Freeport-McMoRan by 5.6% in the fourth quarter. JustInvest LLC now owns 13,488 shares of the natural resource company’s stock valued at $34,000 after acquiring an additional 721 shares during the last quarter. Capstone Triton Financial Group LLC bought a new position in Freeport-McMoRan in the fourth quarter valued at approximately $35,000. Arkadios Wealth Advisors bought a new position in Freeport-McMoRan in the fourth quarter valued at approximately $35,000. Finally, CVA Family Office LLC bought a new position in Freeport-McMoRan in the first quarter valued at approximately $37,000. 72.30% of the stock is currently owned by institutional investors.

In other news, Director Gerald J. Ford sold 3,422 shares of the business’s stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $38.82, for a total transaction of $132,842.04. Following the completion of the sale, the director now directly owns 18,200 shares of the company’s stock, valued at $706,524. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP C Donald Whitmire, Jr. sold 48,240 shares of the business’s stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $30.84, for a total transaction of $1,487,721.60. Following the sale, the vice president now directly owns 85,492 shares of the company’s stock, valued at $2,636,573.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,132,216 shares of company stock valued at $74,301,276. 1.00% of the stock is currently owned by insiders.

A number of research analysts recently issued reports on FCX shares. Raymond James lifted their price objective on shares of Freeport-McMoRan from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, April 23rd. Citigroup upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Tuesday, February 16th. Morgan Stanley restated an “equal weight” rating on shares of Freeport-McMoRan in a research report on Tuesday, March 30th. Argus upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, January 5th. Finally, BMO Capital Markets initiated coverage on shares of Freeport-McMoRan in a research report on Friday, April 23rd. They issued a “buy” rating and a $45.00 target price on the stock. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $26.47.

FCX opened at $38.71 on Tuesday. Freeport-McMoRan Inc. has a 1-year low of $7.80 and a 1-year high of $39.98. The company has a current ratio of 2.61, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57. The company has a market cap of $56.46 billion, a P/E ratio of -430.06 and a beta of 2.27. The company has a fifty day moving average price of $35.33 and a two-hundred day moving average price of $28.79.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, April 22nd. The natural resource company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.74 billion. Freeport-McMoRan had a negative net margin of 0.73% and a positive return on equity of 1.56%. The firm’s revenue for the quarter was up 73.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.18) earnings per share. On average, research analysts forecast that Freeport-McMoRan Inc. will post 0.56 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 3rd. Stockholders of record on Thursday, April 15th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, April 14th. This is an increase from Freeport-McMoRan’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a dividend yield of 0.77%. Freeport-McMoRan’s payout ratio is presently 1,500.00%.

About Freeport-McMoRan

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.

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

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