20,228 Shares of Freeport-McMoRan Inc. $FCX Acquired by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the third quarter, HoldingsChannel.com reports. The firm acquired 20,228 shares of the natural resource company’s stock, valued at approximately $1,416,000.

Other large investors also recently modified their holdings of the company. State Street Corp grew its stake in Freeport-McMoRan by 3.6% in the second quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock valued at $4,181,268,000 after purchasing an additional 2,300,416 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Freeport-McMoRan by 20.0% during the 1st quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock worth $2,489,069,000 after purchasing an additional 7,044,775 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Freeport-McMoRan by 13.8% during the 2nd quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company’s stock worth $938,197,000 after purchasing an additional 1,810,698 shares in the last quarter. Amundi raised its stake in shares of Freeport-McMoRan by 10.5% during the 2nd quarter. Amundi now owns 11,819,898 shares of the natural resource company’s stock worth $743,353,000 after purchasing an additional 1,125,982 shares in the last quarter. Finally, Jupiter Topco LLC acquired a new stake in shares of Freeport-McMoRan in the 2nd quarter valued at approximately $739,890,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $62.38 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $89.58 billion, a P/E ratio of 26.21, a P/E/G ratio of 0.58 and a beta of 1.38. Freeport-McMoRan Inc. has a 12 month low of $38.85 and a 12 month high of $80.24. The stock has a 50 day moving average of $69.56 and a 200-day moving average of $65.28.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Tuesday, October 27th. The natural resource company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. Freeport-McMoRan had a return on equity of 12.09% and a net margin of 13.03%. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.36 billion. During the same quarter in the prior year, the business earned $0.50 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 3.02 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th were paid a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 12.61%.

Insider Activity

In related news, EVP Douglas Currault, II sold 80,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total value of $6,284,800.00. Following the transaction, the executive vice president owned 211,016 shares in the company, valued at approximately $16,577,416.96. This represents a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lydia Kennard sold 3,798 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.11, for a total transaction of $300,459.78. Following the completion of the transaction, the director directly owned 122,702 shares in the company, valued at approximately $9,706,955.22. This represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Freeport-McMoRan from $76.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Wall Street Zen downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Freeport-McMoRan in a research note on Thursday, September 10th. Wells Fargo & Company lowered their price objective on shares of Freeport-McMoRan from $87.00 to $79.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Finally, Erste Group Bank started coverage on shares of Freeport-McMoRan in a report on Thursday, August 27th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and an average target price of $75.30.

About Freeport-McMoRan

Freeport-McMoRan Inc is a mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Its products serve industries including construction, manufacturing, electronics and energy.

The company operates mines and related facilities in North America, South America and Indonesia. Its assets include the Grasberg minerals district in Indonesia and copper operations in the United States, Peru and Chile.

Freeport-McMoRan traces its roots to Freeport Sulphur Company, founded in 1912, and has since developed into a major international mining business.