5,483 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Bought by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC bought a new position in Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,483 shares of the natural resource company’s stock, valued at approximately $233,000.

Several other institutional investors have also recently bought and sold shares of the company. K.J. Harrison & Partners Inc raised its holdings in Freeport-McMoRan by 14.4% in the 4th quarter. K.J. Harrison & Partners Inc now owns 205,298 shares of the natural resource company’s stock worth $8,740,000 after acquiring an additional 25,865 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Freeport-McMoRan by 94.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,000 shares of the natural resource company’s stock worth $170,000 after purchasing an additional 1,942 shares during the period. Stevens Capital Management LP increased its holdings in shares of Freeport-McMoRan by 50.7% during the 4th quarter. Stevens Capital Management LP now owns 58,182 shares of the natural resource company’s stock worth $2,477,000 after purchasing an additional 19,573 shares during the period. Syon Capital LLC increased its holdings in shares of Freeport-McMoRan by 33.2% during the 4th quarter. Syon Capital LLC now owns 11,289 shares of the natural resource company’s stock worth $481,000 after purchasing an additional 2,815 shares during the period. Finally, Lyell Wealth Management LP increased its holdings in shares of Freeport-McMoRan by 4.5% during the 4th quarter. Lyell Wealth Management LP now owns 123,718 shares of the natural resource company’s stock worth $5,267,000 after purchasing an additional 5,309 shares during the period. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of NYSE FCX traded up $1.10 during trading on Friday, reaching $50.50. The company had a trading volume of 19,037,059 shares, compared to its average volume of 16,097,275. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $52.42. The stock has a market cap of $72.44 billion, a PE ratio of 44.67, a PEG ratio of 8.00 and a beta of 2.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.38 and a current ratio of 2.35. The business’s 50 day moving average price is $44.47 and its 200-day moving average price is $40.26.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, topping 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 company had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. Analysts expect that Freeport-McMoRan Inc. will post 1.67 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is 26.55%.

Analysts Set New Price Targets

FCX has been the topic of several research reports. Argus boosted their price objective on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Tuesday, April 9th. Raymond James boosted their price objective on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target of $50.07.

About Freeport-McMoRan

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.