Everpar Advisors LLC Makes New $991,000 Investment in Freeport-McMoRan Inc. (NYSE:FCX)

Everpar Advisors LLC bought a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, Holdings Channel reports. The institutional investor bought 23,271 shares of the natural resource company’s stock, valued at approximately $991,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Bruce G. Allen Investments LLC bought a new position in shares of Freeport-McMoRan during the fourth quarter worth about $27,000. BluePath Capital Management LLC bought a new position in Freeport-McMoRan in the 3rd quarter worth about $28,000. Webster Bank N. A. increased its stake in shares of Freeport-McMoRan by 6,469.2% in the fourth quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock valued at $36,000 after purchasing an additional 841 shares during the period. CVA Family Office LLC bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $38,000. Finally, Orion Capital Management LLC acquired a new position in shares of Freeport-McMoRan during the third quarter worth approximately $40,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of NYSE FCX traded down $1.43 during mid-day trading on Wednesday, reaching $49.96. The company had a trading volume of 14,150,824 shares, compared to its average volume of 14,289,620. Freeport-McMoRan Inc. has a 1-year low of $32.83 and a 1-year high of $52.52. The stock has a market cap of $71.66 billion, a PE ratio of 45.48, a P/E/G ratio of 8.19 and a beta of 2.02. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $46.38 and a two-hundred day moving average price of $41.14.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. The business had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. Freeport-McMoRan’s revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. On average, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.66 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, April 12th. Freeport-McMoRan’s dividend payout ratio is currently 26.55%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FCX shares. 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 report on Wednesday, April 24th. HSBC upped their price objective on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Raymond James raised their target price on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Scotiabank reduced their price target on shares of Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating for the company in a research note on Wednesday, April 24th. Finally, Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.07.

Insider Buying and Selling at Freeport-McMoRan

In related news, CAO Stephen T. Higgins sold 42,767 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $50.35, for a total value of $2,153,318.45. Following the completion of the sale, the chief accounting officer now owns 104,377 shares of the company’s stock, valued at approximately $5,255,381.95. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Douglas N. Currault II sold 55,000 shares of the 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 completion of the sale, the vice president now owns 164,067 shares in the company, valued at approximately $8,529,843.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen T. Higgins sold 42,767 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $50.35, for a total transaction of $2,153,318.45. Following the completion of the transaction, the chief accounting officer now owns 104,377 shares in the company, valued at $5,255,381.95. The disclosure for this sale can be found here. Insiders have sold 365,667 shares of company stock worth $18,592,670 over the last 90 days. 0.78% of the stock is currently owned by corporate insiders.

About Freeport-McMoRan

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.