Compound Planning Inc. Purchases 1,784 Shares of Freeport-McMoRan Inc. $FCX

Compound Planning Inc. lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,805 shares of the natural resource company’s stock after buying an additional 1,784 shares during the quarter. Compound Planning Inc.’s holdings in Freeport-McMoRan were worth $1,848,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Coppell Advisory Solutions LLC lifted its stake in Freeport-McMoRan by 47.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company’s stock worth $32,000 after acquiring an additional 268 shares during the period. City Holding Co. bought a new stake in shares of Freeport-McMoRan in the 1st quarter valued at about $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $35,000. Dagco Inc. purchased a new stake in shares of Freeport-McMoRan in the 1st quarter worth approximately $37,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Freeport-McMoRan during the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FCX. Stifel Nicolaus started coverage on shares of Freeport-McMoRan in a report on Wednesday, July 9th. They set a “buy” rating and a $56.00 price objective on the stock. Royal Bank Of Canada lifted their price target on Freeport-McMoRan from $52.00 to $54.00 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. Hsbc Global Res cut Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 22nd. Morgan Stanley downgraded Freeport-McMoRan from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $45.00 to $54.00 in a research report on Tuesday, July 15th. Finally, Stifel Canada upgraded Freeport-McMoRan to a “strong-buy” rating in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Freeport-McMoRan Stock Up 3.6%

Shares of FCX stock opened at $43.24 on Friday. The stock’s fifty day moving average price is $43.04 and its 200 day moving average price is $39.42. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $52.61. The company has a market cap of $62.08 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 0.79 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. The company had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $6.85 billion. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The firm’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. On average, research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 22.73%.

Insiders Place Their Bets

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $40.02, for a total transaction of $343,531.68. Following the transaction, the chief accounting officer owned 48,333 shares in the company, valued at approximately $1,934,286.66. This represents a 15.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.75% of the company’s stock.

Freeport-McMoRan Profile

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.