CSat Investment Advisory L.P. Buys 5,846 Shares of Freeport-McMoRan Inc (NYSE:FCX)

CSat Investment Advisory L.P. boosted its holdings in shares of Freeport-McMoRan Inc (NYSE:FCX) by 381.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,380 shares of the natural resource company’s stock after purchasing an additional 5,846 shares during the quarter. CSat Investment Advisory L.P.’s holdings in Freeport-McMoRan were worth $96,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc lifted its position in shares of Freeport-McMoRan by 3.6% in the 3rd quarter. Vanguard Group Inc now owns 154,818,850 shares of the natural resource company’s stock worth $2,155,078,000 after acquiring an additional 5,375,340 shares during the period. Hexavest Inc. acquired a new position in shares of Freeport-McMoRan in the 1st quarter worth approximately $64,964,000. Oregon Public Employees Retirement Fund raised its holdings in shares of Freeport-McMoRan by 896.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,109,615 shares of the natural resource company’s stock worth $496,000 after buying an additional 4,596,738 shares in the last quarter. Brandywine Global Investment Management LLC raised its holdings in shares of Freeport-McMoRan by 181,362.5% in the 4th quarter. Brandywine Global Investment Management LLC now owns 3,215,516 shares of the natural resource company’s stock worth $33,152,000 after buying an additional 3,213,744 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Freeport-McMoRan by 2,683.4% in the 4th quarter. Two Sigma Investments LP now owns 3,105,016 shares of the natural resource company’s stock worth $32,013,000 after buying an additional 2,993,462 shares in the last quarter. Hedge funds and other institutional investors own 72.46% of the company’s stock.

In other Freeport-McMoRan news, CFO Kathleen L. Quirk bought 50,000 shares of Freeport-McMoRan stock in a transaction on Friday, June 7th. The shares were purchased at an average cost of $10.49 per share, for a total transaction of $524,500.00. Following the completion of the acquisition, the chief financial officer now owns 920,769 shares in the company, valued at approximately $9,658,866.81. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Harry M. Iv Conger sold 155,000 shares of Freeport-McMoRan stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $10.51, for a total value of $1,629,050.00. Following the transaction, the chief operating officer now owns 416,382 shares in the company, valued at $4,376,174.82. The disclosure for this sale can be found here. 0.98% of the stock is owned by company insiders.

A number of equities analysts have recently issued reports on the company. UBS Group set a $13.00 target price on Freeport-McMoRan and gave the stock a “hold” rating in a report on Wednesday. ValuEngine raised Freeport-McMoRan from a “sell” rating to a “hold” rating in a report on Monday, June 3rd. BMO Capital Markets set a $14.00 target price on Freeport-McMoRan and gave the stock a “hold” rating in a report on Friday, April 26th. Raymond James reissued a “market perform” rating and issued a $14.00 target price on shares of Freeport-McMoRan in a report on Friday, April 26th. Finally, Zacks Investment Research cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $14.95.

FCX stock traded up $0.05 during midday trading on Friday, reaching $11.61. 18,125,659 shares of the company’s stock traded hands, compared to its average volume of 21,240,576. The stock has a market cap of $16.77 billion, a P/E ratio of 7.64 and a beta of 2.27. The company has a current ratio of 2.79, a quick ratio of 1.41 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average of $10.59. Freeport-McMoRan Inc has a 1-year low of $9.47 and a 1-year high of $18.14.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, April 25th. The natural resource company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.77 billion. Freeport-McMoRan had a net margin of 9.09% and a return on equity of 10.31%. The firm’s quarterly revenue was down 22.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 earnings per share. On average, sell-side analysts anticipate that Freeport-McMoRan Inc will post 0.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $0.20 annualized dividend and a dividend yield of 1.72%. Freeport-McMoRan’s dividend payout ratio is currently 13.16%.

About Freeport-McMoRan

Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.

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

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