Malaga Cove Capital LLC Has $1.55 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Malaga Cove Capital LLC lowered its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 36,385 shares of the natural resource company’s stock after selling 1,375 shares during the period. Malaga Cove Capital LLC’s holdings in Freeport-McMoRan were worth $1,549,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FCX. Fulton Bank N.A. boosted its position in Freeport-McMoRan by 2.6% during the fourth quarter. Fulton Bank N.A. now owns 10,606 shares of the natural resource company’s stock worth $451,000 after purchasing an additional 267 shares during the period. Drive Wealth Management LLC raised its holdings in Freeport-McMoRan by 2.8% in the 4th quarter. Drive Wealth Management LLC now owns 9,840 shares of the natural resource company’s stock valued at $419,000 after acquiring an additional 267 shares during the period. Sound Income Strategies LLC lifted its position in Freeport-McMoRan by 38.8% during the fourth quarter. Sound Income Strategies LLC now owns 965 shares of the natural resource company’s stock worth $41,000 after acquiring an additional 270 shares during the last quarter. PFG Investments LLC boosted its holdings in shares of Freeport-McMoRan by 1.7% during the fourth quarter. PFG Investments LLC now owns 16,844 shares of the natural resource company’s stock worth $717,000 after acquiring an additional 285 shares during the period. Finally, Oarsman Capital Inc. grew its position in shares of Freeport-McMoRan by 0.7% in the third quarter. Oarsman Capital Inc. now owns 45,869 shares of the natural resource company’s stock valued at $1,710,000 after purchasing an additional 304 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 3.4 %

FCX traded up $1.67 during trading on Friday, hitting $50.45. The company’s stock had a trading volume of 14,498,117 shares, compared to its average volume of 17,456,276. The firm has a market capitalization of $72.37 billion, a P/E ratio of 44.65, a PEG ratio of 8.19 and a beta of 2.02. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $52.52. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average price is $45.86 and its 200-day moving average price is $40.87.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. Analysts anticipate that Freeport-McMoRan Inc. will post 1.66 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 15th were given a $0.15 dividend. The ex-dividend date was Friday, April 12th. This represents a $0.60 annualized dividend and a yield of 1.19%. Freeport-McMoRan’s payout ratio is 26.55%.

Wall Street Analyst Weigh In

FCX has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. HSBC boosted their target price on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Scotiabank cut their price objective on shares of Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating for the company in a report on Wednesday, April 24th. Sanford C. Bernstein upgraded shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $41.00 to $48.50 in a research report on Monday, January 8th. Finally, Bernstein Bank lifted their price target on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.07.

Insider Buying and Selling

In related news, VP Douglas N. Currault II sold 55,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the transaction, the vice president now directly owns 164,067 shares in the company, valued at $8,529,843.33. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Douglas N. Currault II sold 55,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the completion of the sale, the vice president now directly owns 164,067 shares of the company’s stock, valued at $8,529,843.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard C. Adkerson sold 169,229 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $50.56, for a total value of $8,556,218.24. Following the completion of the transaction, the chief executive officer now owns 3,707,249 shares of the company’s stock, valued at approximately $187,438,509.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 310,896 shares of company stock worth $15,811,399. 0.78% of the stock is owned by corporate insiders.

Freeport-McMoRan Company Profile

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