M Holdings Securities Inc. Takes Position in Freeport-McMoRan Inc. (NYSE:FCX)

M Holdings Securities Inc. bought a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCXGet Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,897 shares of the natural resource company’s stock, valued at approximately $393,000.

A number of other hedge funds have also recently modified their holdings of the business. Dynamic Advisor Solutions LLC raised its position in shares of Freeport-McMoRan by 2.7% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 32,280 shares of the natural resource company’s stock worth $1,606,000 after purchasing an additional 850 shares during the last quarter. Cibc World Market Inc. raised its position in shares of Freeport-McMoRan by 21.3% in the 1st quarter. Cibc World Market Inc. now owns 264,655 shares of the natural resource company’s stock worth $13,164,000 after purchasing an additional 46,536 shares during the last quarter. NuWave Investment Management LLC purchased a new position in shares of Freeport-McMoRan in the 1st quarter worth about $280,000. Minot Wealth Management LLC purchased a new position in shares of Freeport-McMoRan in the 1st quarter worth about $462,000. Finally, Capital Investment Advisory Services LLC purchased a new position in Freeport-McMoRan in the 1st quarter worth about $556,000. Institutional investors own 77.38% of the company’s stock.

Insider Buying and Selling at Freeport-McMoRan

In related news, Director Ryan Michael Lance purchased 31,000 shares of Freeport-McMoRan stock in a transaction on Monday, August 29th. The shares were bought at an average cost of $31.88 per share, for a total transaction of $988,280.00. Following the acquisition, the director now owns 32,132 shares in the company, valued at approximately $1,024,368.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ryan Michael Lance purchased 31,000 shares of Freeport-McMoRan stock in a transaction on Monday, August 29th. The shares were bought at an average cost of $31.88 per share, for a total transaction of $988,280.00. Following the acquisition, the director now owns 32,132 shares in the company, valued at approximately $1,024,368.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sara Grootwassink Lewis bought 3,000 shares of Freeport-McMoRan stock in a transaction dated Wednesday, August 3rd. The stock was acquired at an average price of $28.79 per share, for a total transaction of $86,370.00. Following the completion of the acquisition, the director now owns 13,800 shares in the company, valued at $397,302. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by insiders.

Freeport-McMoRan Trading Down 1.5 %

Shares of NYSE:FCX opened at $29.33 on Friday. Freeport-McMoRan Inc. has a 12-month low of $24.80 and a 12-month high of $51.99. The company has a current ratio of 2.73, a quick ratio of 1.94 and a debt-to-equity ratio of 0.42. The company has a market cap of $41.92 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 0.38 and a beta of 2.00. The stock has a 50 day moving average of $29.61 and a 200 day moving average of $37.22.

Freeport-McMoRan (NYSE:FCXGet Rating) last issued its earnings results on Thursday, July 21st. The natural resource company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.31). The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $6.20 billion. Freeport-McMoRan had a return on equity of 22.04% and a net margin of 20.08%. Freeport-McMoRan’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 2.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 15th were issued a $0.15 dividend. The ex-dividend date was Thursday, July 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.05%. Freeport-McMoRan’s dividend payout ratio is currently 9.12%.

Analyst Ratings Changes

A number of equities analysts have weighed in on FCX shares. Citigroup boosted their target price on Freeport-McMoRan from $28.00 to $29.00 in a research report on Friday, July 22nd. Wolfe Research lowered Freeport-McMoRan from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 7th. The Goldman Sachs Group decreased their target price on Freeport-McMoRan from $54.00 to $46.00 and set a “buy” rating for the company in a research report on Thursday, July 14th. Credit Suisse Group decreased their target price on Freeport-McMoRan to $34.00 in a research report on Friday, July 22nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Freeport-McMoRan in a research report on Thursday, June 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.00.

Freeport-McMoRan Profile

(Get Rating)

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

See Also

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

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