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

HCR Wealth Advisors trimmed its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.3% in the first quarter, HoldingsChannel.com reports. The fund owned 30,322 shares of the natural resource company’s stock after selling 414 shares during the period. HCR Wealth Advisors’ holdings in Freeport-McMoRan were worth $1,148,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Freeport-McMoRan by 24.2% in the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after purchasing an additional 2,882 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Freeport-McMoRan by 27.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company’s stock worth $20,565,000 after buying an additional 115,552 shares in the last quarter. Principal Securities Inc. lifted its holdings in Freeport-McMoRan by 64.6% during the 4th quarter. Principal Securities Inc. now owns 33,950 shares of the natural resource company’s stock worth $1,293,000 after buying an additional 13,323 shares in the last quarter. Allworth Financial LP boosted its position in Freeport-McMoRan by 70.0% in the 4th quarter. Allworth Financial LP now owns 12,469 shares of the natural resource company’s stock valued at $487,000 after buying an additional 5,133 shares during the period. Finally, Sanctuary Advisors LLC grew its stake in shares of Freeport-McMoRan by 23.3% in the fourth quarter. Sanctuary Advisors LLC now owns 202,927 shares of the natural resource company’s stock worth $7,435,000 after acquiring an additional 38,287 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Down 0.5%

Shares of FCX stock opened at $41.17 on Thursday. The company has a market capitalization of $59.16 billion, a P/E ratio of 34.02, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64. The company has a current ratio of 2.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $37.95 and its two-hundred day moving average is $38.23. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $52.61.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data 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. The company had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $5.36 billion. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. Freeport-McMoRan’s revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. Equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

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 of this dividend was Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.46%. Freeport-McMoRan’s dividend payout ratio is currently 24.79%.

Insider Buying and Selling

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $40.02, for a total value of $343,531.68. Following the completion of the transaction, the chief accounting officer now owns 48,333 shares in the company, valued at approximately $1,934,286.66. This represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FCX shares. 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 report on Tuesday, April 15th. Wolfe Research raised Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their target price on shares of Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group reiterated a “buy” rating and set a $50.00 price target (up previously from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. Finally, Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.27.

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.