Actinver Wealth Management Inc. purchased a new position in Freeport-McMoRan Inc (NYSE:FCX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 250,985 shares of the natural resource company’s stock, valued at approximately $2,588,000. Freeport-McMoRan accounts for 0.5% of Actinver Wealth Management Inc.’s portfolio, making the stock its 27th biggest position.
Other institutional investors and hedge funds have also bought and sold shares of the company. Intrust Bank NA increased its holdings in shares of Freeport-McMoRan by 85.4% during the fourth quarter. Intrust Bank NA now owns 29,668 shares of the natural resource company’s stock valued at $305,000 after acquiring an additional 13,664 shares in the last quarter. Gateway Investment Advisers LLC increased its holdings in Freeport-McMoRan by 8.4% in the 4th quarter. Gateway Investment Advisers LLC now owns 67,882 shares of the natural resource company’s stock worth $700,000 after buying an additional 5,256 shares during the period. Sentry Investment Management LLC increased its holdings in Freeport-McMoRan by 9.8% in the 4th quarter. Sentry Investment Management LLC now owns 94,760 shares of the natural resource company’s stock worth $977,000 after buying an additional 8,438 shares during the period. Vanguard Group Inc. increased its holdings in Freeport-McMoRan by 3.6% in the 3rd quarter. Vanguard Group Inc. now owns 154,818,850 shares of the natural resource company’s stock worth $2,155,078,000 after buying an additional 5,375,340 shares during the period. Finally, Cypress Capital Group increased its holdings in Freeport-McMoRan by 15.9% in the 4th quarter. Cypress Capital Group now owns 24,482 shares of the natural resource company’s stock worth $252,000 after buying an additional 3,367 shares during the period. 70.76% of the stock is currently owned by institutional investors.
In other news, VP C Donald Whitmire, Jr. sold 7,425 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $11.58, for a total transaction of $85,981.50. Following the transaction, the vice president now owns 67,974 shares in the company, valued at approximately $787,138.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.05% of the company’s stock.
Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 24th. The natural resource company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Freeport-McMoRan had a return on equity of 15.77% and a net margin of 12.12%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period in the previous year, the business earned $0.51 EPS. Freeport-McMoRan’s revenue for the quarter was down 26.9% compared to the same quarter last year. Analysts anticipate that Freeport-McMoRan Inc will post 0.5 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.47%. Freeport-McMoRan’s dividend payout ratio (DPR) is 13.16%.
FCX has been the topic of several research reports. Citigroup upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $16.00 in a report on Tuesday, February 19th. ValuEngine upgraded shares of Freeport-McMoRan from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Morgan Stanley downgraded shares of Freeport-McMoRan from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 13th. UBS Group set a $14.00 price target on shares of Freeport-McMoRan and gave the stock a “hold” rating in a report on Friday, April 5th. Finally, Zacks Investment Research upgraded shares of Freeport-McMoRan from a “strong sell” rating to a “hold” rating in a report on Thursday, February 14th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.57.
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Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. 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 in Peru and El Abra in Chile.
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