Baxter Bros Inc. Sells 9,000 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Baxter Bros Inc. lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,802 shares of the natural resource company's stock after selling 9,000 shares during the period. Baxter Bros Inc.'s holdings in Freeport-McMoRan were worth $1,015,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Coppell Advisory Solutions LLC lifted its position in shares of Freeport-McMoRan by 47.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock valued at $32,000 after buying an additional 268 shares during the last quarter. Palogic Value Management L.P. raised its stake in Freeport-McMoRan by 1.5% in the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock valued at $772,000 after acquiring an additional 292 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Freeport-McMoRan by 0.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock valued at $1,451,000 after purchasing an additional 309 shares during the last quarter. Inspire Advisors LLC boosted its position in Freeport-McMoRan by 2.6% during the fourth quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company's stock worth $494,000 after purchasing an additional 325 shares during the period. Finally, Soltis Investment Advisors LLC boosted its position in Freeport-McMoRan by 3.6% during the fourth quarter. Soltis Investment Advisors LLC now owns 10,090 shares of the natural resource company's stock worth $384,000 after purchasing an additional 346 shares during the period. Institutional investors and hedge funds own 80.77% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FCX shares. JPMorgan Chase & Co. cut their target price 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. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective for the company in a report on Wednesday, April 16th. Scotiabank increased their target price on Freeport-McMoRan from $40.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 14th. Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.82.

Insider Buying and Selling at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 48,333 shares of the company's stock, valued at $1,934,286.66. This represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.75% of the company's stock.

Freeport-McMoRan Price Performance

Shares of FCX traded up $0.80 during trading hours on Thursday, reaching $41.66. The stock had a trading volume of 17,196,265 shares, compared to its average volume of 13,423,439. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $52.61. The stock has a market capitalization of $59.87 billion, a PE ratio of 32.30, a PEG ratio of 0.87 and a beta of 1.64. The company's 50-day moving average is $36.30 and its two-hundred day moving average is $38.39.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period last year, the company earned $0.32 EPS. The firm's revenue was down 9.4% compared to the same quarter last year. Research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were paid a $0.15 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.44%. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

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.