Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Invesco LLC

Invesco LLC reduced its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 12.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,841 shares of the natural resource company’s stock after selling 1,241 shares during the quarter. Invesco LLC’s holdings in Freeport-McMoRan were worth $335,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Coppell Advisory Solutions LLC boosted its holdings in Freeport-McMoRan by 47.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company’s stock valued at $32,000 after purchasing an additional 268 shares during the period. Palogic Value Management L.P. lifted its stake in shares of Freeport-McMoRan by 1.5% in the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock valued at $772,000 after buying an additional 292 shares during the period. CIBC Private Wealth Group LLC grew its position in Freeport-McMoRan by 0.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company’s stock worth $1,451,000 after buying an additional 309 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in Freeport-McMoRan by 38.2% in the 1st quarter. Wolff Wiese Magana LLC now owns 1,153 shares of the natural resource company’s stock valued at $44,000 after acquiring an additional 319 shares in the last quarter. Finally, Inspire Advisors LLC lifted its position in shares of Freeport-McMoRan by 2.6% in the 4th quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company’s stock worth $494,000 after acquiring an additional 325 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 1.8%

FCX stock opened at $40.96 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 2.32 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $52.61. The company has a market cap of $58.86 billion, a P/E ratio of 33.85, a PEG ratio of 0.80 and a beta of 1.64. The business has a fifty day moving average of $38.43 and a 200-day moving average of $38.12.

Freeport-McMoRan (NYSE:FCX) last issued 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. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) 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 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 completion of the sale, the chief accounting officer now directly owns 48,333 shares in the company, valued at $1,934,286.66. This represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FCX. Royal Bank Of Canada upped their target price on Freeport-McMoRan from $52.00 to $54.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 4th. 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. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. cut their price target on shares of Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, Wall Street Zen lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.27.

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.