Fielder Capital Group LLC Buys New Shares in Freeport-McMoRan Inc. (NYSE:FCX)

Fielder Capital Group LLC purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,087 shares of the natural resource company’s stock, valued at approximately $344,000.

Other large investors have also added to or reduced their stakes in the company. Maryland State Retirement & Pension System raised its holdings in shares of Freeport-McMoRan by 1.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 111,194 shares of the natural resource company’s stock worth $4,734,000 after purchasing an additional 2,082 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $262,000. Connecticut Wealth Management LLC purchased a new position in shares of Freeport-McMoRan during the 4th quarter valued at approximately $590,000. Avalon Trust Co acquired a new position in shares of Freeport-McMoRan in the 4th quarter valued at $86,000. Finally, TCG Advisory Services LLC acquired a new stake in Freeport-McMoRan during the fourth quarter valued at $1,785,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 target price on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Tuesday, April 9th. Argus upped their price objective on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $41.00 to $48.50 in a research note on Monday, January 8th. Finally, Scotiabank lowered their price objective on Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating on the stock in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.07.

Insider Activity at Freeport-McMoRan

In related news, CEO Richard C. Adkerson sold 169,229 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $50.56, for a total transaction of $8,556,218.24. Following the completion of the transaction, the chief executive officer now directly owns 3,707,249 shares in the company, valued at approximately $187,438,509.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Freeport-McMoRan news, CEO Richard C. Adkerson sold 169,229 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $50.56, for a total value of $8,556,218.24. Following the completion of the transaction, the chief executive officer now owns 3,707,249 shares in the company, valued at $187,438,509.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Douglas N. Currault II sold 55,000 shares of Freeport-McMoRan stock in a transaction on Monday, April 29th. The shares were sold at an average price of $51.99, for a total value of $2,859,450.00. Following the completion of the transaction, the vice president now owns 164,067 shares of the company’s stock, valued at $8,529,843.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 310,896 shares of company stock worth $15,811,399. 0.78% of the stock is currently owned by company insiders.

Freeport-McMoRan Trading Up 0.8 %

FCX traded up $0.40 during trading hours on Tuesday, reaching $51.39. The company’s stock had a trading volume of 13,105,281 shares, compared to its average volume of 14,290,812. The business’s 50-day moving average is $46.12 and its 200-day moving average is $41.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.41. The stock has a market cap of $73.71 billion, a PE ratio of 45.13, a P/E/G ratio of 8.19 and a beta of 2.02. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $52.52.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data 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. The firm had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the company earned $0.52 EPS. As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 1.66 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were given a dividend of $0.15 per share. The ex-dividend date was Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.17%. Freeport-McMoRan’s dividend payout ratio is currently 26.55%.

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.