Krilogy Financial LLC Has $2.29 Million Stock Holdings in Freeport-McMoRan Inc. $FCX

Krilogy Financial LLC raised its position in Freeport-McMoRan Inc. (NYSE:FCX) by 76.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,141 shares of the natural resource company’s stock after buying an additional 19,498 shares during the quarter. Krilogy Financial LLC’s holdings in Freeport-McMoRan were worth $2,293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FCX. Brighton Jones LLC grew its holdings in Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after buying an additional 2,882 shares in the last quarter. Bison Wealth LLC grew its holdings in Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after buying an additional 507 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Freeport-McMoRan in the 2nd quarter valued at $560,000. Brown Advisory Inc. grew its holdings in Freeport-McMoRan by 27.0% in the 2nd quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock valued at $539,000 after buying an additional 2,648 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in Freeport-McMoRan by 42.7% in the 2nd quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock valued at $2,172,000 after buying an additional 14,992 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $70.14 on Tuesday. The stock has a fifty day moving average price of $62.33 and a 200-day moving average price of $53.27. The company has a market cap of $100.80 billion, a price-to-earnings ratio of 46.45, a PEG ratio of 0.80 and a beta of 1.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29. Freeport-McMoRan Inc. has a fifty-two week low of $32.12 and a fifty-two week high of $70.96.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19. The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.42 billion. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The company’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 2.55 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio is presently 19.87%.

Insider Activity

In related news, Chairman Richard C. Adkerson sold 152,960 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the completion of the sale, the chairman directly owned 3,356,159 shares in the company, valued at $216,975,679.35. This represents a 4.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Douglas N. Currault II sold 75,000 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total value of $4,839,000.00. Following the sale, the executive vice president owned 219,181 shares of the company’s stock, valued at approximately $14,141,558.12. This represents a 25.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 565,145 shares of company stock worth $35,839,918. 0.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on FCX. Scotiabank decreased their price objective on Freeport-McMoRan from $72.00 to $71.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 14th. BMO Capital Markets upped their price objective on Freeport-McMoRan from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. HSBC upped their target price on Freeport-McMoRan from $69.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Freeport-McMoRan in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group upped their target price on Freeport-McMoRan from $68.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.26.

About Freeport-McMoRan

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.