Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Visionary Wealth Advisors

Visionary Wealth Advisors lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,409 shares of the natural resource company’s stock after selling 933 shares during the period. Visionary Wealth Advisors’ holdings in Freeport-McMoRan were worth $511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Twinbeech Capital LP acquired a new position in Freeport-McMoRan in the fourth quarter valued at $30,819,000. Temasek Holdings Private Ltd boosted its stake in Freeport-McMoRan by 7.5% in the fourth quarter. Temasek Holdings Private Ltd now owns 805,528 shares of the natural resource company’s stock valued at $30,675,000 after acquiring an additional 56,100 shares in the last quarter. Tidal Investments LLC boosted its stake in Freeport-McMoRan by 6.0% in the fourth quarter. Tidal Investments LLC now owns 164,445 shares of the natural resource company’s stock valued at $6,262,000 after acquiring an additional 9,364 shares in the last quarter. Teza Capital Management LLC boosted its stake in Freeport-McMoRan by 172.8% in the fourth quarter. Teza Capital Management LLC now owns 39,294 shares of the natural resource company’s stock valued at $1,496,000 after acquiring an additional 24,891 shares in the last quarter. Finally, State of Wyoming boosted its stake in Freeport-McMoRan by 104.9% in the fourth quarter. State of Wyoming now owns 10,036 shares of the natural resource company’s stock valued at $382,000 after acquiring an additional 5,139 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Ratings Changes

FCX has been the subject of several research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $50.00 price objective (up previously from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Scotiabank upped their price objective on shares of Freeport-McMoRan from $40.00 to $43.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 14th. Raymond James reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Freeport-McMoRan in a report on Friday, April 25th. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.36.

Freeport-McMoRan Trading Down 1.1%

NYSE FCX opened at $38.37 on Wednesday. The stock has a market capitalization of $55.14 billion, a P/E ratio of 29.74, a P/E/G ratio of 0.87 and a beta of 1.65. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $54.95. The firm has a 50-day moving average price of $36.56 and a 200 day moving average price of $38.81. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The firm had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.56%. Freeport-McMoRan’s dividend payout ratio is currently 24.79%.

Freeport-McMoRan Company 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.