180 Wealth Advisors LLC Purchases 2,128 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

180 Wealth Advisors LLC grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 4.2% in the first quarter, Holdings Channel reports. The fund owned 52,216 shares of the natural resource company’s stock after buying an additional 2,128 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Freeport-McMoRan were worth $2,455,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tompkins Financial Corp boosted its position in Freeport-McMoRan by 33.8% in the 1st quarter. Tompkins Financial Corp now owns 791 shares of the natural resource company’s stock valued at $37,000 after buying an additional 200 shares during the period. Mather Group LLC. boosted its position in Freeport-McMoRan by 1.3% in the 1st quarter. Mather Group LLC. now owns 17,417 shares of the natural resource company’s stock valued at $819,000 after buying an additional 222 shares during the period. Foster Group Inc. boosted its position in Freeport-McMoRan by 0.8% in the 1st quarter. Foster Group Inc. now owns 32,050 shares of the natural resource company’s stock valued at $1,507,000 after buying an additional 247 shares during the period. Fulton Bank N.A. boosted its position in Freeport-McMoRan by 2.6% in the 4th quarter. Fulton Bank N.A. now owns 10,606 shares of the natural resource company’s stock valued at $451,000 after buying an additional 267 shares during the period. Finally, Drive Wealth Management LLC lifted its position in shares of Freeport-McMoRan by 2.8% in the 4th quarter. Drive Wealth Management LLC now owns 9,840 shares of the natural resource company’s stock worth $419,000 after purchasing an additional 267 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FCX. Argus upped their price target on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. HSBC upped their price target on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Freeport-McMoRan from $48.00 to $51.00 and gave the stock a “hold” rating in a research report on Monday, June 10th. Finally, Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $52.93.

Insider Buying and Selling at Freeport-McMoRan

In other news, VP Douglas N. Currault II sold 55,000 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $51.99, for a total value of $2,859,450.00. Following the sale, the vice president now owns 164,067 shares in the company, valued at $8,529,843.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Douglas N. Currault II sold 55,000 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $51.99, for a total value of $2,859,450.00. Following the sale, the vice president now owns 164,067 shares in the company, valued at $8,529,843.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephen T. Higgins sold 80,000 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 104,377 shares in the company, valued at approximately $5,430,735.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 445,667 shares of company stock worth $22,755,070. 0.79% of the stock is owned by corporate insiders.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock traded up $0.47 during mid-day trading on Friday, reaching $48.79. 3,552,781 shares of the company traded hands, compared to its average volume of 14,033,264. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.41. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $55.24. The company has a market capitalization of $70.09 billion, a price-to-earnings ratio of 42.77, a price-to-earnings-growth ratio of 2.13 and a beta of 1.96. The firm’s fifty day moving average is $50.60 and its two-hundred day moving average is $45.00.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The business had revenue of $6.32 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the business posted $0.52 EPS. Freeport-McMoRan’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities research analysts expect that Freeport-McMoRan Inc. will post 1.73 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, July 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.23%. Freeport-McMoRan’s payout ratio is 26.55%.

Freeport-McMoRan Company Profile

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.