Freeport-McMoRan Inc. $FCX Shares Purchased by Vanguard Capital Wealth Advisors

Vanguard Capital Wealth Advisors increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 208.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,700 shares of the natural resource company’s stock after acquiring an additional 7,906 shares during the period. Vanguard Capital Wealth Advisors’ holdings in Freeport-McMoRan were worth $736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Freeport-McMoRan by 24.2% in the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after purchasing an additional 2,882 shares during the period. Bison Wealth LLC lifted its holdings in shares of Freeport-McMoRan by 5.6% during the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after purchasing an additional 507 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Freeport-McMoRan during the second quarter worth about $560,000. Brown Advisory Inc. lifted its holdings in shares of Freeport-McMoRan by 27.0% during the second quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after purchasing an additional 2,648 shares during the period. Finally, Jump Financial LLC boosted its position in Freeport-McMoRan by 42.7% in 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 during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $72.42 on Wednesday. The stock has a market capitalization of $104.00 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 0.74 and a beta of 1.40. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $80.24. The firm’s 50 day simple moving average is $65.75 and its 200-day simple moving average is $64.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.12. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The firm had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the business posted $0.54 EPS. The business’s revenue was down 7.3% compared to the same quarter last year. Analysts expect that Freeport-McMoRan Inc. will post 2.81 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan’s payout ratio is presently 14.78%.

Insider Activity

In other news, CAO Stephen T. Higgins sold 14,277 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total transaction of $992,251.50. Following the sale, the chief accounting officer directly owned 54,618 shares in the company, valued at $3,795,951. This trade represents a 20.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas N. Currault II sold 80,000 shares of Freeport-McMoRan stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total value of $6,284,800.00. Following the completion of the transaction, the executive vice president owned 211,016 shares of the company’s stock, valued at approximately $16,577,416.96. This represents a 27.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 110,398 shares of company stock worth $8,387,271 over the last three months. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

FCX has been the topic of several research reports. The Goldman Sachs Group cut their price target on shares of Freeport-McMoRan from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. BNP Paribas Exane upped their price objective on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Wells Fargo & Company upped their price objective on shares of Freeport-McMoRan from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Freeport-McMoRan from $73.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley raised their target price on shares of Freeport-McMoRan from $66.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $70.27.

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.