Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Tucker Asset Management LLC

Tucker Asset Management LLC raised its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 1,312.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,938 shares of the natural resource company’s stock after acquiring an additional 2,730 shares during the quarter. Tucker Asset Management LLC’s holdings in Freeport-McMoRan were worth $125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FCX. Bruce G. Allen Investments LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at about $27,000. Jones Financial Companies Lllp raised its position in shares of Freeport-McMoRan by 422.2% in the fourth quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock valued at $28,000 after buying an additional 532 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $32,000. EdgeRock Capital LLC acquired a new stake in Freeport-McMoRan during the fourth quarter worth approximately $35,000. Finally, Webster Bank N. A. grew its stake in Freeport-McMoRan by 6,469.2% in the 4th quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock worth $36,000 after acquiring an additional 841 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Insiders Place Their Bets

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 completion of the transaction, the chief accounting officer now owns 104,377 shares in the company, valued at approximately $5,430,735.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 80,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $52.03, for a total transaction of $4,162,400.00. Following the sale, the chief accounting officer now directly owns 104,377 shares in the company, valued at approximately $5,430,735.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Douglas N. Currault II sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the completion of the sale, the vice president now directly owns 164,067 shares of the company’s stock, valued at $8,529,843.33. The disclosure for this sale can be found here. Insiders have sold a total of 445,667 shares of company stock valued at $22,755,070 in the last quarter. Insiders own 0.79% of the company’s stock.

Freeport-McMoRan Stock Up 0.3 %

Shares of FCX traded up $0.12 during midday trading on Friday, hitting $48.11. The company had a trading volume of 8,370,169 shares, compared to its average volume of 14,085,875. The stock has a market cap of $69.01 billion, a price-to-earnings ratio of 42.58, a PEG ratio of 2.09 and a beta of 1.96. The company’s 50 day moving average price is $50.84 and its 200 day moving average price is $44.33. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCXGet Free Report) last released its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 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 company had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the business posted $0.52 EPS. Freeport-McMoRan’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders 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 yield of 1.25%. The ex-dividend date of this dividend was Friday, April 12th. Freeport-McMoRan’s dividend payout ratio is presently 26.55%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FCX. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. HSBC raised their price objective on Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Bernstein Bank boosted their target price on Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Argus raised their price target on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and an average target price of $51.47.

View Our Latest Research Report on FCX

Freeport-McMoRan Company Profile

(Free Report)

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

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