Kiley Juergens Wealth Management LLC Makes New Investment in Freeport-McMoRan Inc. $FCX

Kiley Juergens Wealth Management LLC purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,696 shares of the natural resource company’s stock, valued at approximately $511,000.

A number of other institutional investors have also modified their holdings of the company. Steph & Co. lifted its stake in Freeport-McMoRan by 43.7% during the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 150 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Freeport-McMoRan during the 4th quarter valued at about $25,000. Kemnay Advisory Services Inc. acquired a new position in Freeport-McMoRan in the 4th quarter valued at about $29,000. Financial Life Planners acquired a new position in Freeport-McMoRan in the 1st quarter valued at about $34,000. Finally, SHP Wealth Management purchased a new stake in Freeport-McMoRan during the fourth quarter worth about $30,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Down 2.8%

Freeport-McMoRan stock opened at $59.27 on Wednesday. The stock has a market cap of $85.21 billion, a PE ratio of 31.53, a P/E/G ratio of 0.63 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. The stock’s fifty day moving average is $63.77 and its two-hundred day moving average is $61.51. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $72.28.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the prior year, the firm posted $0.24 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 2.59 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan’s dividend payout ratio is 15.96%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FCX shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Freeport-McMoRan in a research report on Friday, May 15th. The Goldman Sachs Group upped their target price on shares of Freeport-McMoRan from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Weiss Ratings upgraded shares of Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Sanford C. Bernstein raised their price target on shares of Freeport-McMoRan from $53.50 to $58.50 and gave the company a “market perform” rating in a research report on Wednesday, June 10th. Finally, Wells Fargo & Company dropped their price target on shares of Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.36.

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.