O Shaughnessy Asset Management LLC Buys 2,096 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

O Shaughnessy Asset Management LLC boosted its stake in Freeport-McMoRan Inc. (NYSE:FCXGet Rating) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,442 shares of the natural resource company’s stock after purchasing an additional 2,096 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Freeport-McMoRan were worth $1,476,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in Freeport-McMoRan in the 1st quarter valued at approximately $26,000. Core Alternative Capital increased its position in Freeport-McMoRan by 444.7% in the 1st quarter. Core Alternative Capital now owns 561 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 458 shares during the period. BDO Wealth Advisors LLC increased its position in Freeport-McMoRan by 495.0% in the 1st quarter. BDO Wealth Advisors LLC now owns 601 shares of the natural resource company’s stock valued at $30,000 after acquiring an additional 500 shares during the period. Quent Capital LLC acquired a new position in Freeport-McMoRan in the 1st quarter valued at approximately $33,000. Finally, Charter Oak Capital Management LLC acquired a new position in Freeport-McMoRan in the 2nd quarter valued at approximately $25,000. Institutional investors own 77.38% of the company’s stock.

Freeport-McMoRan Stock Up 0.5 %

Shares of NYSE FCX opened at $38.04 on Thursday. The firm has a market cap of $54.37 billion, a PE ratio of 14.46 and a beta of 1.95. Freeport-McMoRan Inc. has a 12-month low of $24.80 and a 12-month high of $51.99. The company’s fifty day simple moving average is $31.60 and its 200 day simple moving average is $32.11. The company has a quick ratio of 1.76, a current ratio of 2.56 and a debt-to-equity ratio of 0.40.

Freeport-McMoRan (NYSE:FCXGet Rating) last issued its earnings results on Thursday, October 20th. The natural resource company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.14). Freeport-McMoRan had a return on equity of 17.69% and a net margin of 16.72%. The company had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.91 billion. During the same period in the prior year, the company earned $0.89 earnings per share. The firm’s revenue was down 17.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Freeport-McMoRan Inc. will post 2.33 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, October 14th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, October 13th. Freeport-McMoRan’s dividend payout ratio (DPR) is 11.41%.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, Director Ryan Michael Lance acquired 31,000 shares of the company’s stock in a transaction on Monday, August 29th. The shares were purchased at an average cost of $31.88 per share, with a total value of $988,280.00. Following the completion of the purchase, the director now owns 32,132 shares of the company’s stock, valued at $1,024,368.16. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on FCX. Barclays decreased their price target on shares of Freeport-McMoRan to $23.00 in a research report on Thursday, October 20th. StockNews.com began coverage on shares of Freeport-McMoRan in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Scotiabank cut shares of Freeport-McMoRan from a “sector outperform” rating to a “sector perform” rating and set a $34.00 price objective for the company. in a research report on Friday, November 11th. They noted that the move was a valuation call. Raymond James decreased their price objective on shares of Freeport-McMoRan from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, October 21st. Finally, BNP Paribas cut shares of Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $29.00 price objective for the company. in a research report on Thursday, October 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Freeport-McMoRan currently has a consensus rating of “Hold” and a consensus target price of $38.07.

About Freeport-McMoRan

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freeport-McMoRan Inc. (NYSE:FCXGet Rating).

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

Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.