218,635 Freeport-McMoRan Inc. $FCX Shares Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. raised its position in Freeport-McMoRan Inc. (NYSE:FCX) by 24.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,106,298 shares of the natural resource company’s stock after purchasing an additional 218,635 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.08% of Freeport-McMoRan worth $76,743,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Banque Pictet & Cie SA raised its position in shares of Freeport-McMoRan by 14.9% during the 3rd quarter. Banque Pictet & Cie SA now owns 224,858 shares of the natural resource company’s stock valued at $15,740,000 after buying an additional 29,163 shares during the period. Eagle Bay Advisors LLC acquired a new position in Freeport-McMoRan in the third quarter valued at approximately $209,000. Aspiriant LLC grew its position in Freeport-McMoRan by 22.4% in the third quarter. Aspiriant LLC now owns 4,839 shares of the natural resource company’s stock worth $339,000 after acquiring an additional 887 shares during the period. Pension & Wealth Management Advisors Inc. grew its position in Freeport-McMoRan by 265.7% in the third quarter. Pension & Wealth Management Advisors Inc. now owns 1,653 shares of the natural resource company’s stock worth $116,000 after acquiring an additional 1,201 shares during the period. Finally, Goelzer Investment Management Inc. grew its position in Freeport-McMoRan by 1.1% in the third quarter. Goelzer Investment Management Inc. now owns 51,319 shares of the natural resource company’s stock worth $3,592,000 after acquiring an additional 581 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 1.0%

Freeport-McMoRan stock traded down $0.72 during mid-day trading on Friday, reaching $69.33. 12,069,916 shares of the company’s stock were exchanged, compared to its average volume of 10,967,696. The company has a market cap of $99.57 billion, a P/E ratio of 34.16, a P/E/G ratio of 0.66 and a beta of 1.39. Freeport-McMoRan Inc. has a twelve month low of $38.54 and a twelve month high of $80.24. The company has a quick ratio of 0.92, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average of $72.12 and a 200-day moving average of $66.62.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.62 by $0.12. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The company had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the company posted $0.54 EPS. The firm’s revenue was down 7.3% compared to the same quarter last year. Sell-side analysts expect that Freeport-McMoRan Inc. will post 2.90 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be paid a $0.0750 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 14.78%.

Insider Buying and Selling

In related news, Director Lydia Kennard sold 3,798 shares of Freeport-McMoRan stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.11, for a total value of $300,459.78. Following the completion of the transaction, the director directly owned 122,702 shares in the company, valued at approximately $9,706,955.22. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Ellie Mikes sold 4,773 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $70.00, for a total value of $334,110.00. Following the transaction, the chief accounting officer directly owned 36,000 shares of the company’s stock, valued at $2,520,000. The trade was a 11.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 110,398 shares of company stock valued at $8,387,271. 0.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on FCX. The Goldman Sachs Group reissued a “buy” rating on shares of Freeport-McMoRan in a research note on Thursday, September 10th. Stifel Nicolaus lifted their target price on Freeport-McMoRan from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. upped their price target on Freeport-McMoRan from $77.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Wells Fargo & Company increased their price target on Freeport-McMoRan from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, October 6th. Finally, Erste Group Bank assumed coverage on shares of Freeport-McMoRan in a report on Thursday, August 27th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and an average price target of $76.22.

Freeport-McMoRan Profile

Freeport-McMoRan Inc (NYSE: FCX) is a leading international mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.