Everpar Advisors LLC Acquires New Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Everpar Advisors LLC acquired a new position in Freeport-McMoRan Inc. (NYSE:FCX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 23,271 shares of the natural resource company’s stock, valued at approximately $991,000.

A number of other hedge funds also recently bought and sold shares of the stock. Capital Wealth Planning LLC bought a new position in shares of Freeport-McMoRan during the 3rd quarter worth approximately $160,160,000. Mizuho Markets Americas LLC acquired a new position in shares of Freeport-McMoRan during the third quarter worth $141,407,000. Alphinity Investment Management Pty Ltd lifted its holdings in shares of Freeport-McMoRan by 57.4% during the 3rd quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock valued at $201,039,000 after purchasing an additional 1,965,987 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Freeport-McMoRan in the 4th quarter worth $66,993,000. Finally, Penserra Capital Management LLC boosted its position in shares of Freeport-McMoRan by 16,058.7% in the 3rd quarter. Penserra Capital Management LLC now owns 1,500,338 shares of the natural resource company’s stock worth $55,947,000 after purchasing an additional 1,491,053 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock traded down $1.43 on Wednesday, reaching $49.96. The company’s stock had a trading volume of 14,150,824 shares, compared to its average volume of 14,289,620. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $52.52. The company has a market capitalization of $71.66 billion, a P/E ratio of 45.48, a PEG ratio of 8.19 and a beta of 2.02. 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 stock has a 50-day moving average price of $46.38 and a 200-day moving average price of $41.14.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data 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 analysts’ expectations of $5.70 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. Analysts expect that Freeport-McMoRan Inc. will post 1.66 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, April 12th. This represents a $0.60 annualized dividend and a yield of 1.20%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 26.55%.

Insider Transactions at Freeport-McMoRan

In related news, VP Douglas N. Currault II sold 55,000 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $51.99, for a total value of $2,859,450.00. Following the completion of the transaction, the vice president now directly owns 164,067 shares of the company’s stock, valued at approximately $8,529,843.33. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Stephen T. Higgins sold 43,900 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 104,377 shares in the company, valued at approximately $5,331,577.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Douglas N. Currault II sold 55,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $51.99, for a total value 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 $8,529,843.33. The disclosure for this sale can be found here. Insiders have sold 365,667 shares of company stock valued at $18,592,670 over the last ninety days. Insiders own 0.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FCX shares. Raymond James increased their price target on Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price target on shares of Freeport-McMoRan in a research report on Thursday, January 25th. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective 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. Finally, Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, April 9th. Five 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.07.

Freeport-McMoRan Company 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.