Stableford Capital II LLC Purchases 36,123 Shares of Freeport-McMoRan Inc. $FCX

Stableford Capital II LLC boosted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 121.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,900 shares of the natural resource company’s stock after buying an additional 36,123 shares during the quarter. Freeport-McMoRan makes up about 1.2% of Stableford Capital II LLC’s portfolio, making the stock its 19th biggest position. Stableford Capital II LLC’s holdings in Freeport-McMoRan were worth $3,347,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after purchasing an additional 2,882 shares during the last quarter. Bison Wealth LLC lifted its position in Freeport-McMoRan by 5.6% during the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after buying an additional 507 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Freeport-McMoRan during the 2nd quarter worth about $560,000. Boston Partners increased its position in shares of Freeport-McMoRan by 14.9% in the second quarter. Boston Partners now owns 5,542,388 shares of the natural resource company’s stock valued at $240,230,000 after acquiring an additional 716,770 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Freeport-McMoRan by 81.7% in the second quarter. American Century Companies Inc. now owns 1,382,171 shares of the natural resource company’s stock valued at $59,917,000 after acquiring an additional 621,612 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $55.91 on Friday. The company has a market cap of $80.36 billion, a P/E ratio of 37.03, a P/E/G ratio of 0.67 and a beta of 1.41. The firm’s fifty day moving average price is $61.39 and its two-hundred day moving average price is $50.57. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $69.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The company had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter last year, the company posted $0.31 EPS. Freeport-McMoRan’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be given a dividend of $0.075 per share. The ex-dividend date is Wednesday, April 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is 19.87%.

Insider Activity at Freeport-McMoRan

In other news, CAO Stephen T. Higgins sold 29,654 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $63.00, for a total value of $1,868,202.00. Following the transaction, the chief accounting officer owned 76,445 shares of the company’s stock, valued at approximately $4,816,035. This represents a 27.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Douglas N. Currault II sold 75,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 219,181 shares in the company, valued at approximately $14,141,558.12. This trade represents a 25.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 565,145 shares of company stock valued at $35,839,918. Insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Argus upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Friday, February 13th. Wells Fargo & Company raised their target price on shares of Freeport-McMoRan from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $53.50 to $54.00 in a report on Friday, January 23rd. BMO Capital Markets increased their price target on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Finally, UBS Group boosted their price objective on shares of Freeport-McMoRan from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target of $62.59.

Freeport-McMoRan Profile

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.