SG Trading Solutions LLC Invests $1.84 Million in Freeport-McMoRan Inc. $FCX

SG Trading Solutions LLC purchased a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,270 shares of the natural resource company’s stock, valued at approximately $1,842,000.

Several other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after purchasing an additional 2,882 shares during the last quarter. Bison Wealth LLC raised its stake in shares of Freeport-McMoRan by 5.6% during the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after buying an additional 507 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Freeport-McMoRan during the second quarter worth approximately $560,000. Brown Advisory Inc. lifted its holdings in Freeport-McMoRan by 27.0% in the second quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock valued at $539,000 after buying an additional 2,648 shares during the period. Finally, Jump Financial LLC boosted its stake in Freeport-McMoRan by 42.7% in the second quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock valued at $2,172,000 after acquiring an additional 14,992 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

FCX opened at $68.80 on Friday. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.28. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The stock has a market cap of $98.90 billion, a P/E ratio of 36.60, a P/E/G ratio of 0.85 and a beta of 1.35. The company has a fifty day simple moving average of $64.91 and a 200 day simple moving average of $59.95.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the prior year, the company earned $0.24 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts expect that Freeport-McMoRan Inc. will post 2.51 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 15.96%.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of analyst reports. HSBC lifted their target price on shares of Freeport-McMoRan from $72.00 to $75.00 in a report on Friday, June 12th. JPMorgan Chase & Co. reduced their price target on Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Citigroup decreased their price objective on Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $66.00 price objective (down from $70.00) on shares of Freeport-McMoRan in a report on Friday, April 24th. Finally, Raymond James Financial cut their target price on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $67.81.

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.