Perryman Financial Advisory Inc. AD Buys Shares of 37,276 Freeport-McMoRan Inc. $FCX

Perryman Financial Advisory Inc. AD bought a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 37,276 shares of the natural resource company’s stock, valued at approximately $1,893,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Seven Mile Advisory purchased a new stake in Freeport-McMoRan in the fourth quarter valued at $233,000. MML Investors Services LLC raised its holdings in shares of Freeport-McMoRan by 25.9% in the 4th quarter. MML Investors Services LLC now owns 313,600 shares of the natural resource company’s stock valued at $15,928,000 after buying an additional 64,513 shares during the period. Mariner LLC raised its holdings in shares of Freeport-McMoRan by 51.9% in the 4th quarter. Mariner LLC now owns 540,420 shares of the natural resource company’s stock valued at $27,466,000 after buying an additional 184,598 shares during the period. Nicolet Advisory Services LLC raised its holdings in shares of Freeport-McMoRan by 53.6% in the 4th quarter. Nicolet Advisory Services LLC now owns 15,461 shares of the natural resource company’s stock valued at $785,000 after buying an additional 5,397 shares during the period. Finally, Fieldview Capital Management LLC purchased a new stake in shares of Freeport-McMoRan in the 4th quarter valued at $1,532,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FCX. Raymond James Financial cut their price objective on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Citigroup cut their price objective on Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, May 1st. JPMorgan Chase & Co. cut their price objective on Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating on the stock in a report on Monday, April 27th. Jefferies Financial Group boosted their price objective on Freeport-McMoRan from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, June 8th. Finally, Weiss Ratings upgraded Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $66.86.

Freeport-McMoRan Trading Down 0.2%

FCX opened at $68.28 on Monday. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.09. The stock has a market capitalization of $98.15 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 0.82 and a beta of 1.35. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. The business has a fifty day moving average price of $64.24 and a 200 day moving average price of $59.18.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the previous year, the firm posted $0.24 EPS. Freeport-McMoRan’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts expect that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s payout ratio is presently 15.96%.

Freeport-McMoRan Company Profile

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.