Kiley Juergens Wealth Management LLC Purchases New Shares in Freeport-McMoRan Inc. $FCX

Kiley Juergens Wealth Management LLC purchased a new position in Freeport-McMoRan Inc. (NYSE:FCX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,696 shares of the natural resource company’s stock, valued at approximately $511,000.

A number of other large investors also recently added to or reduced their stakes in FCX. Pinnacle Bancorp Inc. grew its position in shares of Freeport-McMoRan by 7.9% in the first quarter. Pinnacle Bancorp Inc. now owns 2,011 shares of the natural resource company’s stock valued at $118,000 after purchasing an additional 147 shares during the period. Steph & Co. raised its position in shares of Freeport-McMoRan by 43.7% during the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock worth $29,000 after purchasing an additional 150 shares during the last quarter. Essex Bank raised its position in shares of Freeport-McMoRan by 1.2% during the 1st quarter. Essex Bank now owns 14,104 shares of the natural resource company’s stock worth $829,000 after purchasing an additional 163 shares during the last quarter. Leo Wealth LLC lifted its stake in Freeport-McMoRan by 2.5% in the 4th quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock valued at $347,000 after buying an additional 170 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. increased its stake in Freeport-McMoRan by 0.9% during the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 18,674 shares of the natural resource company’s stock worth $1,098,000 after buying an additional 175 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $59.27 on Wednesday. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $72.28. The stock’s fifty day moving average is $63.77 and its two-hundred day moving average is $61.51. The company has a market capitalization of $85.21 billion, a P/E ratio of 31.53, a P/E/G ratio of 0.63 and a beta of 1.37. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. Equities analysts expect that Freeport-McMoRan Inc. will post 2.59 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 15.96%.

Wall Street Analyst Weigh In

FCX has been the topic of a number of research analyst reports. Scotiabank lifted their price target on Freeport-McMoRan from $67.00 to $77.00 and gave the stock a “sector outperform” rating in a research note on Monday, June 15th. BMO Capital Markets lifted their target price on shares of Freeport-McMoRan from $68.00 to $78.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Raymond James Financial reduced their target price on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Wall Street Zen raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average price target of $68.36.

Freeport-McMoRan 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.