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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Clearbridge Investments LLC boosted its position in shares of Freeport-McMoRan by 25.3% during the second quarter. Clearbridge Investments LLC now owns 11,827,474 shares of the natural resource company’s stock worth $346,072,000 after purchasing an additional 2,385,605 shares in the last quarter. BOKF NA boosted its position in shares of Freeport-McMoRan by 27.2% during the second quarter. BOKF NA now owns 35,794 shares of the natural resource company’s stock worth $1,047,000 after purchasing an additional 7,647 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of Freeport-McMoRan by 77.4% during the second quarter. CoreCap Advisors LLC now owns 9,088 shares of the natural resource company’s stock worth $266,000 after purchasing an additional 3,964 shares in the last quarter. Trexquant Investment LP lifted its position in Freeport-McMoRan by 1,282.6% in the 2nd quarter. Trexquant Investment LP now owns 150,136 shares of the natural resource company’s stock valued at $4,393,000 after acquiring an additional 139,277 shares in the last quarter. Finally, Wagner Wealth Management LLC bought a new stake in Freeport-McMoRan in the 2nd quarter valued at $44,000. 77.38% of the stock is owned by institutional investors.

Insider Transactions at Freeport-McMoRan

In related news, Director Ryan Michael Lance purchased 31,000 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were acquired at an average price of $31.88 per share, for a total transaction of $988,280.00. Following the purchase, the director now owns 32,132 shares in the company, valued at $1,024,368.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. The Goldman Sachs Group cut their price objective on shares of Freeport-McMoRan from $45.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, October 13th. Raymond James cut their price objective on shares of Freeport-McMoRan from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, October 21st. Royal Bank of Canada cut their price objective on shares of Freeport-McMoRan from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Friday, October 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Freeport-McMoRan from $30.00 to $35.00 in a research report on Wednesday. Finally, Exane BNP Paribas lowered shares of Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $29.00 price target on the stock. in a research note 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Hold” and an average price target of $38.07.

Freeport-McMoRan Stock Up 0.5 %

Freeport-McMoRan stock opened at $38.04 on Thursday. The firm has a market capitalization of $54.37 billion, a PE ratio of 14.46 and a beta of 1.95. The company’s 50-day moving average is $31.60 and its 200-day moving average is $32.11. Freeport-McMoRan Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $51.99. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.56 and a quick ratio of 1.76.

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

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, October 14th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, October 13th. This represents a $0.60 annualized dividend and a dividend yield of 1.58%. Freeport-McMoRan’s dividend payout ratio is presently 11.41%.

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.