Savant Capital LLC Purchases 366 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Savant Capital LLC boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX – Get Rating) by 3.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,144 shares of the natural resource company’s stock after buying an additional 366 shares during the quarter. Savant Capital LLC’s holdings in Freeport-McMoRan were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. St. Johns Investment Management Company LLC bought a new stake in Freeport-McMoRan during the first quarter worth $25,000. Charter Oak Capital Management LLC bought a new stake in Freeport-McMoRan during the second quarter worth $25,000. FNY Investment Advisers LLC raised its position in shares of Freeport-McMoRan by 1,250.0% in the first quarter. FNY Investment Advisers LLC now owns 540 shares of the natural resource company’s stock valued at $26,000 after purchasing an additional 500 shares during the period. GHP Investment Advisors Inc. acquired a new stake in shares of Freeport-McMoRan during the 1st quarter worth about $26,000. Finally, Fairfield Bush & CO. acquired a new stake in shares of Freeport-McMoRan during the 1st quarter worth about $26,000. 77.38% of the stock is owned by institutional investors.

Insider Activity 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 bought at an average cost of $31.88 per share, with a total value of $988,280.00. Following the acquisition, the director now owns 32,132 shares of the company’s stock, valued at approximately $1,024,368.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Freeport-McMoRan news, Director Sara Grootwassink Lewis bought 3,000 shares of Freeport-McMoRan stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average cost of $28.79 per share, with a total value of $86,370.00. Following the acquisition, the director now directly owns 13,800 shares of the company’s stock, valued at approximately $397,302. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ryan Michael Lance bought 31,000 shares of Freeport-McMoRan stock in a transaction on Monday, August 29th. The shares were acquired at an average cost of $31.88 per share, for a total transaction of $988,280.00. Following the completion of the acquisition, the director now directly owns 32,132 shares in the company, valued at $1,024,368.16. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by insiders.

Freeport-McMoRan Price Performance

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Shares of NYSE:FCX opened at $30.51 on Thursday. The firm has a 50 day moving average of $29.88 and a 200-day moving average of $35.52. The stock has a market capitalization of $43.61 billion, a PE ratio of 9.27, a PEG ratio of 0.37 and a beta of 1.94. The company has a current ratio of 2.73, a quick ratio of 1.94 and a debt-to-equity ratio of 0.42. Freeport-McMoRan Inc. has a 12 month low of $24.80 and a 12 month high of $51.99.

Freeport-McMoRan (NYSE:FCX – Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The natural resource company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.18). The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $6.20 billion. Freeport-McMoRan had a net margin of 20.08% and a return on equity of 22.04%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 2.69 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 14th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, October 13th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 9.12%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FCX shares. Clarkson Capital restated a “neutral” rating on shares of Freeport-McMoRan in a research note on Tuesday, June 14th. BNP Paribas upgraded shares of Freeport-McMoRan from a “neutral” rating to an “outperform” rating and set a $34.00 target price for the company in a research note on Wednesday, July 13th. Citigroup raised their target price on shares of Freeport-McMoRan from $28.00 to $29.00 in a research note on Friday, July 22nd. Credit Suisse Group cut their target price on shares of Freeport-McMoRan to $34.00 in a research note on Friday, July 22nd. Finally, The Goldman Sachs Group lowered their price target on shares of Freeport-McMoRan from $54.00 to $46.00 and set a “buy” rating on the stock in a research report on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.67.

Freeport-McMoRan Company Profile

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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.