Freeport-McMoRan Inc (FCX) Position Increased by Lindbrook Capital LLC

Lindbrook Capital LLC increased its holdings in shares of Freeport-McMoRan Inc (NYSE:FCX) by 64.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,514 shares of the natural resource company’s stock after acquiring an additional 1,770 shares during the quarter. Lindbrook Capital LLC’s holdings in Freeport-McMoRan were worth $58,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Rational Advisors LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth $26,000. JOYN Advisors Inc. lifted its holdings in Freeport-McMoRan by 141.1% during the fourth quarter. JOYN Advisors Inc. now owns 2,806 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 1,642 shares during the period. Athena Capital Advisors LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth $30,000. Truvestments Capital LLC bought a new stake in Freeport-McMoRan during the first quarter worth $43,000. Finally, Essex Savings Bank bought a new stake in Freeport-McMoRan during the fourth quarter worth $44,000. Institutional investors and hedge funds own 70.76% of the company’s stock.

In other news, VP C Donald Whitmire, Jr. sold 7,425 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $11.58, for a total value of $85,981.50. Following the completion of the sale, the vice president now owns 67,974 shares of the company’s stock, valued at approximately $787,138.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.05% of the company’s stock.

A number of analysts have issued reports on the company. Zacks Investment Research downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Barclays raised their target price on Freeport-McMoRan from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 9th. UBS Group set a $14.00 target price on Freeport-McMoRan and gave the stock a “hold” rating in a research report on Friday, April 5th. Citigroup raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $16.00 in a research report on Tuesday, February 19th. Finally, Morgan Stanley downgraded Freeport-McMoRan from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 13th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $15.57.

NYSE:FCX opened at $13.46 on Wednesday. The firm has a market cap of $19.52 billion, a P/E ratio of 8.86 and a beta of 2.26. Freeport-McMoRan Inc has a 52-week low of $9.60 and a 52-week high of $18.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.22 and a quick ratio of 1.79.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $3.86 billion. Freeport-McMoRan had a net margin of 12.12% and a return on equity of 15.77%. Freeport-McMoRan’s quarterly revenue was down 26.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 EPS. Equities research analysts anticipate that Freeport-McMoRan Inc will post 0.5 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 13.16%.

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About Freeport-McMoRan

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

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