B. Metzler seel. Sohn & Co. AG Sells 17,106 Shares of Freeport-McMoRan Inc. $FCX

Key Points

• B. Metzler seel. Sohn & Co. AG reduced its Freeport-McMoRan stake by 11.9% in the second quarter, selling 17,106 shares and retaining 126,285 shares valued at approximately $7.94 million. Institutional investors collectively own 80.77% of FCX.
• Freeport-McMoRan insiders sold 110,398 shares worth $8.39 million over the past three months, while the stock recently traded at $72.78, below its 52-week high of $80.24.
• The company exceeded quarterly earnings expectations, reporting $0.74 EPS versus the $0.62 consensus and $7.03 billion in revenue. Analysts maintain a “Moderate Buy” consensus rating, and Freeport-McMoRan pays a quarterly dividend of $0.075 per share.

B. Metzler seel. Sohn & Co. AG trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 11.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,285 shares of the natural resource company's stock after selling 17,106 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Freeport-McMoRan were worth $7,942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in FCX. XML Financial LLC grew its position in Freeport-McMoRan by 22.2% during the second quarter. XML Financial LLC now owns 6,065 shares of the natural resource company's stock worth $381,000 after buying an additional 1,100 shares in the last quarter. Nan Shan Life Insurance Co. Ltd. raised its holdings in Freeport-McMoRan by 692.2% in the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 391,700 shares of the natural resource company's stock valued at $24,634,000 after acquiring an additional 342,258 shares in the last quarter. Requisite Capital Management LLC acquired a new position in Freeport-McMoRan in the 2nd quarter valued at $225,000. Vanguard Capital Wealth Advisors lifted its position in shares of Freeport-McMoRan by 208.4% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 11,700 shares of the natural resource company's stock valued at $736,000 after acquiring an additional 7,906 shares during the period. Finally, Triumph Capital Management lifted its position in shares of Freeport-McMoRan by 14,757.9% during the 2nd quarter. Triumph Capital Management now owns 14,115 shares of the natural resource company's stock valued at $888,000 after acquiring an additional 14,020 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Insider Activity at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 4,773 shares of the business's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $334,110.00. Following the sale, the chief accounting officer owned 36,000 shares in the company, valued at $2,520,000. The trade was a 11.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lydia H. Kennard sold 3,798 shares of the company's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $79.11, for a total value of $300,459.78. Following the completion of the transaction, the director directly owned 122,702 shares of the company's stock, valued at approximately $9,706,955.22. The trade was a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 110,398 shares of company stock valued at $8,387,271 over the last three months. 0.73% of the stock is currently owned by corporate insiders.

Freeport-McMoRan Trading Down 1.6%

FCX opened at $72.78 on Friday. The company has a market cap of $104.51 billion, a P/E ratio of 35.85, a PEG ratio of 0.73 and a beta of 1.41. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The company's 50 day moving average is $66.19 and its 200-day moving average is $64.31. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $80.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.12. The business had revenue of $7.03 billion during the quarter, compared to analysts' expectations of $6.62 billion. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The firm's quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. Equities research analysts predict that Freeport-McMoRan Inc. will post 2.81 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.075 per share. The ex-dividend date was Wednesday, July 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.4%. Freeport-McMoRan's dividend payout ratio is 14.78%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. BNP Paribas Exane raised their price target on Freeport-McMoRan from $71.00 to $82.00 and gave the stock an "outperform" rating in a research report on Thursday, June 18th. Jefferies Financial Group upped their price objective on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Wall Street Zen downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Royal Bank Of Canada raised their target price on shares of Freeport-McMoRan from $70.00 to $73.00 and gave the company a "sector perform" rating in a report on Friday, July 24th. Finally, Barclays boosted their target price on shares of Freeport-McMoRan from $80.00 to $82.00 and gave the company an "overweight" rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Freeport-McMoRan currently has an average rating of "Moderate Buy" and an average price target of $70.27.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.

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