Freeport-McMoRan Inc. (FCX) To Go Ex-Dividend on April 15th

Freeport-McMoRan Inc. (NYSE:FCX) declared a quarterly dividend on Wednesday, March 25th. Shareholders of record on Wednesday, April 15th will be paid a dividend of 0.075 per share by the natural resource company on Friday, May 1st. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, April 15th.

Freeport-McMoRan has increased its dividend by an average of 0.6%per year over the last three years. Freeport-McMoRan has a dividend payout ratio of 13.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Freeport-McMoRan to earn $2.16 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 13.9%.

Freeport-McMoRan Trading Up 0.1%

Shares of FCX stock opened at $67.90 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29. Freeport-McMoRan has a 1 year low of $31.85 and a 1 year high of $69.75. The stock has a fifty day moving average of $61.47 and a two-hundred day moving average of $51.95. The firm has a market capitalization of $97.59 billion, a PE ratio of 44.97, a price-to-earnings-growth ratio of 0.80 and a beta of 1.48.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The company had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, research analysts expect that Freeport-McMoRan will post 1.68 EPS for the current year.

Insider Buying and Selling at Freeport-McMoRan

In other news, CAO Stephen T. Higgins sold 29,654 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $63.00, for a total transaction of $1,868,202.00. Following the completion of the sale, the chief accounting officer directly owned 76,445 shares of the company’s stock, valued at $4,816,035. This represents a 27.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Richard C. Adkerson sold 152,960 shares of Freeport-McMoRan stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $64.65, for a total value of $9,888,864.00. Following the completion of the transaction, the chairman directly owned 3,356,159 shares in the company, valued at $216,975,679.35. This represents a 4.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 565,145 shares of company stock valued at $35,839,918 over the last 90 days. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Freeport-McMoRan

Several hedge funds have recently made changes to their positions in the company. Brighton Jones LLC grew its position in Freeport-McMoRan by 24.2% during the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after purchasing an additional 2,882 shares in the last quarter. Bison Wealth LLC lifted its holdings in shares of Freeport-McMoRan by 5.6% in the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after purchasing an additional 507 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Freeport-McMoRan in the second quarter valued at $560,000. Brown Advisory Inc. boosted its position in shares of Freeport-McMoRan by 27.0% in the second quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after buying an additional 2,648 shares during the period. Finally, Jump Financial LLC grew its holdings in shares of Freeport-McMoRan by 42.7% during the second quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock valued at $2,172,000 after buying an additional 14,992 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

About Freeport-McMoRan

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.