Mirador Capital Partners LP Purchases 11,550 Shares of Freeport-McMoRan Inc. $FCX

Mirador Capital Partners LP increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 10.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 124,022 shares of the natural resource company’s stock after acquiring an additional 11,550 shares during the quarter. Freeport-McMoRan comprises 0.9% of Mirador Capital Partners LP’s investment portfolio, making the stock its 28th largest holding. Mirador Capital Partners LP’s holdings in Freeport-McMoRan were worth $6,299,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FCX. Brighton Jones LLC boosted its position in Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after purchasing an additional 2,882 shares during the period. Bison Wealth LLC raised its position in shares of Freeport-McMoRan by 5.6% in the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after purchasing an additional 507 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Freeport-McMoRan in the second quarter valued at approximately $560,000. American Century Companies Inc. lifted its stake in shares of Freeport-McMoRan by 81.7% during the 2nd quarter. American Century Companies Inc. now owns 1,382,171 shares of the natural resource company’s stock valued at $59,917,000 after buying an additional 621,612 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its holdings in Freeport-McMoRan by 19.5% in the 2nd quarter. CreativeOne Wealth LLC now owns 16,211 shares of the natural resource company’s stock worth $703,000 after buying an additional 2,650 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Maree E. Robertson sold 48,500 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $61.55, for a total transaction of $2,985,175.00. Following the sale, the chief financial officer owned 79,894 shares in the company, valued at approximately $4,917,475.70. This trade represents a 37.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard C. Adkerson sold 152,960 shares of Freeport-McMoRan stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the sale, the chairman directly owned 3,356,159 shares of the company’s stock, valued at $216,975,679.35. This represents a 4.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 565,145 shares of company stock worth $35,839,918. Corporate insiders own 0.75% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $56.26 on Friday. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $69.75. The company has a current ratio of 2.29, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The company has a market cap of $80.86 billion, a PE ratio of 37.26, a price-to-earnings-growth ratio of 0.65 and a beta of 1.41. The stock has a 50-day moving average price of $61.34 and a 200-day moving average price of $50.63.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.19. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.42 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. During the same period in the prior year, the business earned $0.31 earnings per share. Freeport-McMoRan’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is presently 19.87%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FCX shares. Wells Fargo & Company lifted their price objective on shares of Freeport-McMoRan from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Citigroup raised their price target on Freeport-McMoRan from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, January 12th. JPMorgan Chase & Co. lifted their price target on Freeport-McMoRan from $58.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. UBS Group decreased their price objective on Freeport-McMoRan from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday. Finally, HSBC increased their price objective on Freeport-McMoRan from $48.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.40.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.