CKW Financial Group Makes New $40,000 Investment in Freeport-McMoRan Inc. $FCX

CKW Financial Group acquired a new position in Freeport-McMoRan Inc. (NYSE:FCX) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,052 shares of the natural resource company’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds have also bought and sold shares of FCX. City Holding Co. purchased a new stake in Freeport-McMoRan in the 1st quarter worth approximately $33,000. Bernard Wealth Management Corp. bought a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $35,000. Dagco Inc. bought a new position in shares of Freeport-McMoRan in the 1st quarter worth approximately $37,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Freeport-McMoRan in the 1st quarter worth approximately $42,000. Finally, Wolff Wiese Magana LLC raised its position in shares of Freeport-McMoRan by 38.2% in the 1st quarter. Wolff Wiese Magana LLC now owns 1,153 shares of the natural resource company’s stock worth $44,000 after acquiring an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 0.7%

FCX stock opened at $46.37 on Friday. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $52.61. The company has a quick ratio of 1.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.30. The firm has a market cap of $66.58 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 0.88 and a beta of 1.59. The business has a 50 day moving average of $43.64 and a 200 day moving average of $39.87.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The company had revenue of $7.58 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same quarter last year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 22.73%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Bank of America reissued a “neutral” rating and issued a $56.00 target price on shares of Freeport-McMoRan in a research report on Wednesday, July 9th. BMO Capital Markets decreased their target price on Freeport-McMoRan from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, July 24th. UBS Group lowered Freeport-McMoRan from a “buy” rating to a “neutral” rating and increased their target price for the stock from $45.00 to $50.00 in a research report on Friday, July 11th. Hsbc Global Res lowered Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. increased their target price on Freeport-McMoRan from $42.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Freeport-McMoRan 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.