Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC boosted its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 44.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,039 shares of the natural resource company's stock after purchasing an additional 7,091 shares during the quarter. Axxcess Wealth Management LLC's holdings in Freeport-McMoRan were worth $872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FCX. Brighton Jones LLC raised its position in Freeport-McMoRan by 24.2% during the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock worth $564,000 after buying an additional 2,882 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position 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 during the last quarter. Independent Advisor Alliance raised its position in Freeport-McMoRan by 34.7% during the 4th quarter. Independent Advisor Alliance now owns 19,424 shares of the natural resource company's stock worth $740,000 after buying an additional 5,006 shares during the last quarter. Farther Finance Advisors LLC raised its position in Freeport-McMoRan by 4.0% during the 4th quarter. Farther Finance Advisors LLC now owns 25,556 shares of the natural resource company's stock worth $973,000 after buying an additional 975 shares during the last quarter. Finally, Achmea Investment Management B.V. raised its position in Freeport-McMoRan by 787.4% during the 4th quarter. Achmea Investment Management B.V. now owns 58,426 shares of the natural resource company's stock worth $2,225,000 after buying an additional 51,842 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Insider Buying and Selling

In related news, CAO Ellie L. Mikes sold 8,584 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $40.02, for a total value of $343,531.68. Following the sale, the chief accounting officer directly owned 48,333 shares of the company's stock, valued at approximately $1,934,286.66. This represents a 15.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FCX shares. Jefferies Financial Group restated a "buy" rating and set a $50.00 price objective (up previously from $48.00) on shares of Freeport-McMoRan in a research report on Friday, April 25th. UBS Group downgraded shares of Freeport-McMoRan from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $45.00 to $50.00 in a research report on Friday. Royal Bank Of Canada upped their price objective on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Raymond James Financial restated an "outperform" rating and set a $52.00 price objective on shares of Freeport-McMoRan in a research report on Friday, April 25th. Finally, Stifel Nicolaus set a $56.00 price objective on shares of Freeport-McMoRan and gave the stock a "buy" rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $51.00.

Freeport-McMoRan Price Performance

NYSE FCX traded down $0.84 during trading hours on Friday, reaching $46.37. The company's stock had a trading volume of 17,116,883 shares, compared to its average volume of 13,804,602. The stock has a market cap of $66.64 billion, a PE ratio of 38.32, a PEG ratio of 0.88 and a beta of 1.64. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $52.61. The company's 50-day moving average is $41.09 and its two-hundred day moving average is $38.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.13 and a current ratio of 2.32.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The firm 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%. The firm's revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS. Analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.29%. Freeport-McMoRan's payout ratio is 24.79%.

Freeport-McMoRan 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.