Jamison Private Wealth Management Inc. Buys Shares of 5,479 Freeport-McMoRan Inc. (NYSE:FCX)

Jamison Private Wealth Management Inc. bought a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 5,479 shares of the natural resource company’s stock, valued at approximately $207,000.

Several other institutional investors have also recently added to or reduced their stakes in FCX. Mizuho Bank Ltd. bought a new stake in Freeport-McMoRan during the fourth quarter valued at $26,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan during the fourth quarter valued at $27,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Freeport-McMoRan during the fourth quarter worth about $29,000. Coppell Advisory Solutions LLC grew its position in shares of Freeport-McMoRan by 47.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company’s stock worth $32,000 after acquiring an additional 268 shares during the last quarter. Finally, City Holding Co. bought a new position in shares of Freeport-McMoRan during the first quarter worth about $33,000. Institutional investors own 80.77% of the company’s stock.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $40.02, for a total value of $343,531.68. Following the completion of the sale, the chief accounting officer now directly owns 48,333 shares of the company’s stock, valued at approximately $1,934,286.66. This represents a 15.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $40.18 on Friday. The firm has a 50-day moving average price of $38.28 and a 200 day moving average price of $38.16. The firm has a market capitalization of $57.74 billion, a PE ratio of 33.20, a P/E/G ratio of 0.80 and a beta of 1.64. The company has a quick ratio of 1.13, a current ratio of 2.32 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $52.61.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the prior year, the company earned $0.32 EPS. Freeport-McMoRan’s revenue was down 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan’s payout ratio is 24.79%.

Wall Street Analyst Weigh In

Several research firms have recently commented on FCX. JPMorgan Chase & Co. lowered their price target on shares of Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Hsbc Global Res upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 14th. Raymond James Financial restated an “outperform” rating and set a $52.00 price target on shares of Freeport-McMoRan in a research report on Friday, April 25th. Finally, UBS Group lowered their price target on shares of Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.27.

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.