999 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Acquired by Creekmur Asset Management LLC

Creekmur Asset Management LLC bought a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 999 shares of the natural resource company’s stock, valued at approximately $43,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Fulton Bank N.A. boosted its position in shares of Freeport-McMoRan by 2.6% during the fourth 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 last quarter. Drive Wealth Management LLC grew its stake in shares of Freeport-McMoRan by 2.8% in the fourth quarter. Drive Wealth Management LLC now owns 9,840 shares of the natural resource company’s stock worth $419,000 after acquiring an additional 267 shares during the period. Sound Income Strategies LLC raised its holdings in shares of Freeport-McMoRan by 38.8% during the fourth quarter. Sound Income Strategies LLC now owns 965 shares of the natural resource company’s stock valued at $41,000 after purchasing an additional 270 shares during the last quarter. PFG Investments LLC lifted its position in Freeport-McMoRan by 1.7% during the fourth quarter. PFG Investments LLC now owns 16,844 shares of the natural resource company’s stock valued at $717,000 after purchasing an additional 285 shares during the period. Finally, Laffer Tengler Investments Inc. boosted its holdings in Freeport-McMoRan by 2.7% in the fourth quarter. Laffer Tengler Investments Inc. now owns 10,765 shares of the natural resource company’s stock worth $458,000 after purchasing an additional 286 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on FCX. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Bernstein Bank increased their target price on Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. reduced their price target on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. UBS Group raised their price objective on shares of Freeport-McMoRan from $41.00 to $54.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Finally, HSBC upped their target price on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.47.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $48.11 on Monday. The stock has a 50-day moving average price of $50.84 and a 200 day moving average price of $44.38. The stock has a market capitalization of $69.01 billion, a P/E ratio of 42.58, a P/E/G ratio of 2.10 and a beta of 1.96. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month high of $55.24. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the firm posted $0.52 EPS. The company’s revenue was up 17.3% on a year-over-year basis. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.71 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

Insider Activity

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 43,900 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $51.08, for a total value of $2,242,412.00. Following the sale, the chief accounting officer now owns 104,377 shares of the company’s stock, valued at approximately $5,331,577.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 43,900 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $51.08, for a total transaction of $2,242,412.00. Following the completion of the transaction, the chief accounting officer now owns 104,377 shares in the company, valued at $5,331,577.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard C. Adkerson sold 169,229 shares of Freeport-McMoRan stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $50.56, for a total transaction of $8,556,218.24. Following the completion of the transaction, the chief executive officer now directly owns 3,707,249 shares of the company’s stock, valued at $187,438,509.44. The disclosure for this sale can be found here. Insiders sold a total of 445,667 shares of company stock worth $22,755,070 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.

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.