Freeport-McMoRan Inc. $FCX Stock Position Cut by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,395 shares of the natural resource company’s stock after selling 676 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Freeport-McMoRan were worth $2,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC raised its position in shares of Freeport-McMoRan by 667.0% in the first quarter. Transamerica Financial Advisors LLC now owns 1,764 shares of the natural resource company’s stock valued at $67,000 after purchasing an additional 1,534 shares during the period. Guggenheim Capital LLC increased its holdings in Freeport-McMoRan by 5.8% in the 1st quarter. Guggenheim Capital LLC now owns 285,175 shares of the natural resource company’s stock valued at $10,797,000 after buying an additional 15,693 shares during the period. Ieq Capital LLC grew its holdings in shares of Freeport-McMoRan by 92.4% in the 1st quarter. Ieq Capital LLC now owns 147,292 shares of the natural resource company’s stock worth $5,576,000 after purchasing an additional 70,754 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of Freeport-McMoRan by 3.5% in the 1st quarter. Gabelli Funds LLC now owns 1,275,216 shares of the natural resource company’s stock worth $48,280,000 after purchasing an additional 43,708 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in Freeport-McMoRan during the 1st quarter worth about $26,226,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $44.42 on Friday. The stock has a market cap of $63.78 billion, a P/E ratio of 33.65, a PEG ratio of 0.84 and a beta of 1.63. The company has a quick ratio of 1.21, a current ratio of 2.47 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 business’s 50-day moving average price is $43.34 and its two-hundred day moving average price is $39.64.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.09. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The company had revenue of $7.58 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same period in the previous year, the company posted $0.46 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. As a group, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 22.73%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FCX shares. Scotiabank increased their price target on shares of Freeport-McMoRan from $48.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 9th. Hsbc Global Res cut shares of Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 22nd. Stifel Canada raised Freeport-McMoRan to a “strong-buy” rating in a report on Tuesday, July 8th. Morgan Stanley downgraded Freeport-McMoRan from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $45.00 to $54.00 in a report on Tuesday, July 15th. Finally, BMO Capital Markets decreased their price target on Freeport-McMoRan from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Insider Activity

In related news, CAO Ellie L. Mikes sold 8,584 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $40.02, for a total transaction of $343,531.68. Following the completion of the transaction, the chief accounting officer owned 48,333 shares in the company, valued at $1,934,286.66. The trade was a 15.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is owned by insiders.

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.