Kraematon Investment Advisors Inc. Reduces Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Kraematon Investment Advisors Inc. trimmed its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 16.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,455 shares of the natural resource company’s stock after selling 1,643 shares during the quarter. Kraematon Investment Advisors Inc.’s holdings in Freeport-McMoRan were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of FCX. Lake Hills Wealth Management LLC bought a new stake in shares of Freeport-McMoRan during the first quarter worth $436,000. Gateway Investment Advisers LLC lifted its position in shares of Freeport-McMoRan by 1,674.6% during the first quarter. Gateway Investment Advisers LLC now owns 250,752 shares of the natural resource company’s stock worth $9,493,000 after purchasing an additional 236,622 shares during the last quarter. Impact Capital Partners LLC bought a new stake in shares of Freeport-McMoRan during the first quarter worth $224,000. Procyon Advisors LLC lifted its position in shares of Freeport-McMoRan by 21.6% during the first quarter. Procyon Advisors LLC now owns 45,821 shares of the natural resource company’s stock worth $1,735,000 after purchasing an additional 8,131 shares during the last quarter. Finally, Intellectus Partners LLC lifted its position in shares of Freeport-McMoRan by 1.5% during the first quarter. Intellectus Partners LLC now owns 72,352 shares of the natural resource company’s stock worth $2,739,000 after purchasing an additional 1,088 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $40.02, for a total value of $343,531.68. Following the transaction, the chief accounting officer now owns 48,333 shares in the company, valued at $1,934,286.66. The trade was a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is owned by insiders.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $41.50 on Friday. The firm has a market cap of $59.64 billion, a P/E ratio of 32.17, a P/E/G ratio of 0.87 and a beta of 1.64. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $52.61. The stock’s fifty day moving average price is $36.45 and its 200-day moving average price is $38.32.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. On average, equities 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 Thursday, May 1st. Shareholders of record on Tuesday, April 15th were paid a $0.15 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.45%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 24.79%.

Wall Street Analyst Weigh In

FCX has been the subject of several research analyst reports. Scotiabank lifted their target price on Freeport-McMoRan from $40.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 14th. UBS Group decreased their target price on Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Wolfe Research upgraded Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 target price for the company in a research report on Wednesday, April 16th. Wall Street Zen downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus price target of $47.82.

About Freeport-McMoRan

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.