American Trust Investment Advisors LLC Buys 655 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

American Trust Investment Advisors LLC raised its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,670 shares of the natural resource company’s stock after acquiring an additional 655 shares during the quarter. Freeport-McMoRan comprises 2.0% of American Trust Investment Advisors LLC’s holdings, making the stock its 22nd largest position. American Trust Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $3,860,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Bruce G. Allen Investments LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at $27,000. Jones Financial Companies Lllp increased its position in Freeport-McMoRan by 422.2% during the fourth quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock worth $28,000 after acquiring an additional 532 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new stake in Freeport-McMoRan in the 4th quarter worth about $32,000. EdgeRock Capital LLC bought a new stake in Freeport-McMoRan in the 4th quarter valued at about $35,000. Finally, Webster Bank N. A. grew its position in shares of Freeport-McMoRan by 6,469.2% during the 4th quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock worth $36,000 after purchasing an additional 841 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Stephen T. Higgins sold 42,767 shares of the stock in a transaction dated 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 $5,255,381.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Freeport-McMoRan news, CEO Richard C. Adkerson sold 169,229 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $50.56, for a total transaction of $8,556,218.24. Following the completion of the sale, the chief executive officer now directly owns 3,707,249 shares in the company, valued at approximately $187,438,509.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Stephen T. Higgins sold 42,767 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $50.35, for a total value of $2,153,318.45. Following the sale, the chief accounting officer now owns 104,377 shares in the company, valued at approximately $5,255,381.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 445,667 shares of company stock valued at $22,755,070. 0.78% of the stock is currently owned by company insiders.

Freeport-McMoRan Trading Down 1.0 %

Shares of NYSE:FCX traded down $0.54 during midday trading on Tuesday, hitting $54.32. 18,143,814 shares of the stock were exchanged, compared to its average volume of 14,361,724. The business’s 50-day moving average price is $48.90 and its 200 day moving average price is $42.32. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.41 and a current ratio of 2.35. The stock has a market capitalization of $77.92 billion, a price-to-earnings ratio of 48.53, a P/E/G ratio of 8.82 and a beta of 2.02.

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

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.10%. The ex-dividend date was Friday, April 12th. Freeport-McMoRan’s dividend payout ratio is currently 26.55%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FCX shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price target on shares of Freeport-McMoRan in a research note on Thursday, January 25th. Scotiabank cut their target price on Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating for the company in a research report on Wednesday, April 24th. Argus raised their price target on Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. cut their price objective on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Finally, Bernstein Bank raised their target price on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Five research 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, the stock has an average rating of “Moderate Buy” and an average target price of $51.00.

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.