Gilman Hill Asset Management LLC Acquires New Stake in Freeport-McMoRan Inc (NYSE:FCX)

Gilman Hill Asset Management LLC acquired a new position in shares of Freeport-McMoRan Inc (NYSE:FCX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 67,769 shares of the natural resource company’s stock, valued at approximately $699,000.

A number of other large investors also recently added to or reduced their stakes in the business. First National Trust Co purchased a new position in shares of Freeport-McMoRan during the fourth quarter worth $104,000. Flagship Harbor Advisors LLC grew its position in shares of Freeport-McMoRan by 21.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 5,120 shares of the natural resource company’s stock valued at $52,000 after buying an additional 908 shares during the last quarter. Supplemental Annuity Collective Trust of NJ raised its holdings in Freeport-McMoRan by 5.0% in the fourth quarter. Supplemental Annuity Collective Trust of NJ now owns 42,000 shares of the natural resource company’s stock valued at $433,000 after acquiring an additional 2,000 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in Freeport-McMoRan by 10.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 3,075,000 shares of the natural resource company’s stock worth $31,703,000 after purchasing an additional 300,000 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Freeport-McMoRan by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 32,378,452 shares of the natural resource company’s stock valued at $333,822,000 after buying an additional 121,884 shares in the last quarter. 70.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FCX opened at $12.29 on Thursday. Freeport-McMoRan Inc has a fifty-two week low of $9.60 and a fifty-two week high of $19.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.80 and a current ratio of 3.23. The stock has a market capitalization of $16.88 billion, a PE ratio of 8.09 and a beta of 2.20.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 24th. The natural resource company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.07). The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.86 billion. Freeport-McMoRan had a return on equity of 15.88% and a net margin of 12.12%. The company’s quarterly revenue was down 26.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. Equities research analysts anticipate that Freeport-McMoRan Inc will post 0.5 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Tuesday, January 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, January 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.63%. Freeport-McMoRan’s payout ratio is 13.16%.

Several analysts have recently weighed in on FCX shares. ValuEngine raised shares of Freeport-McMoRan from a “strong sell” rating to a “sell” rating in a report on Thursday, January 10th. TheStreet lowered shares of Freeport-McMoRan from a “b-” rating to a “c+” rating in a research report on Monday, November 19th. BMO Capital Markets set a $13.00 target price on shares of Freeport-McMoRan and gave the stock a “hold” rating in a research note on Thursday, October 25th. Royal Bank of Canada cut Freeport-McMoRan from a “sector perform” rating to an “underperform” rating and set a $12.20 price objective on the stock. in a report on Tuesday, November 6th. They noted that the move was a valuation call. Finally, Raymond James set a $16.00 target price on shares of Freeport-McMoRan and gave the company a “hold” rating in a report on Wednesday, October 24th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $16.15.

In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 7,425 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $11.58, for a total transaction of $85,981.50. Following the sale, the vice president now directly owns 67,974 shares of the company’s stock, valued at $787,138.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.05% of the stock is currently owned by company insiders.

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Freeport-McMoRan Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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