Dakota Wealth Management Has $4.48 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Dakota Wealth Management grew its holdings in Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 346.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 95,223 shares of the natural resource company’s stock after purchasing an additional 73,902 shares during the quarter. Dakota Wealth Management’s holdings in Freeport-McMoRan were worth $4,477,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. CM Management LLC grew its position in Freeport-McMoRan by 80.0% during the third quarter. CM Management LLC now owns 36,000 shares of the natural resource company’s stock worth $1,342,000 after buying an additional 16,000 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its position in Freeport-McMoRan by 6.4% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock worth $14,726,000 after buying an additional 20,894 shares in the last quarter. Cadinha & Co. LLC grew its position in Freeport-McMoRan by 59.0% during the fourth quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company’s stock worth $27,572,000 after buying an additional 240,340 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Freeport-McMoRan by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company’s stock worth $279,977,000 after buying an additional 102,466 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd grew its position in Freeport-McMoRan by 57.4% during the third quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock worth $201,039,000 after buying an additional 1,965,987 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Freeport-McMoRan news, VP Douglas N. Currault II sold 55,000 shares of Freeport-McMoRan stock in a transaction on Monday, April 29th. The shares were sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the completion of the sale, the vice president now owns 164,067 shares of the company’s stock, valued at approximately $8,529,843.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Freeport-McMoRan news, VP Douglas N. Currault II sold 55,000 shares of Freeport-McMoRan stock in a transaction on Monday, April 29th. The shares were sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the completion of the sale, the vice president now owns 164,067 shares of the company’s stock, valued at approximately $8,529,843.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephen T. Higgins sold 43,900 shares of Freeport-McMoRan stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $51.08, for a total transaction of $2,242,412.00. Following the sale, the chief accounting officer now directly owns 104,377 shares of the company’s stock, valued at approximately $5,331,577.16. The disclosure for this sale can be found here. Insiders sold 445,667 shares of company stock worth $22,755,070 in the last quarter. Insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on FCX. Bernstein Bank raised their price target on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Argus raised their price target on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. cut 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 note on Wednesday, April 24th. UBS Group raised their price target on shares of Freeport-McMoRan from $41.00 to $54.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Finally, HSBC raised their price target on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Get Our Latest Stock Report on Freeport-McMoRan

Freeport-McMoRan Trading Up 1.1 %

FCX stock traded up $0.61 during trading on Monday, hitting $54.84. The company had a trading volume of 15,769,510 shares, compared to its average volume of 14,322,116. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $48.90 and a 200-day moving average price of $42.32. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $55.24. The stock has a market cap of $78.66 billion, a price-to-earnings ratio of 48.53, a PEG ratio of 8.82 and a beta of 2.02.

Freeport-McMoRan (NYSE:FCXGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The firm had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the company posted $0.52 EPS. Freeport-McMoRan’s revenue was up 17.3% on a year-over-year basis. As a group, analysts predict that Freeport-McMoRan Inc. will post 1.66 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

Freeport-McMoRan Company Profile

(Free Report)

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.

See Also

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

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