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Compass Wealth Management LLC Trims Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Freeport-McMoRan logo with Basic Materials background

Compass Wealth Management LLC lessened its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 21.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,786 shares of the natural resource company's stock after selling 9,006 shares during the quarter. Compass Wealth Management LLC's holdings in Freeport-McMoRan were worth $1,241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mizuho Bank Ltd. acquired a new position in Freeport-McMoRan in the 4th quarter worth approximately $26,000. Coppell Advisory Solutions LLC boosted its position 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 worth $32,000 after purchasing an additional 268 shares in the last quarter. City Holding Co. purchased a new stake in Freeport-McMoRan in the 1st quarter worth approximately $33,000. Bernard Wealth Management Corp. purchased a new stake in Freeport-McMoRan in the 4th quarter worth approximately $35,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Freeport-McMoRan in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Trading Down 1.5%

NYSE FCX traded down $0.69 during trading on Monday, hitting $45.11. The stock had a trading volume of 19,619,671 shares, compared to its average volume of 13,503,690. The firm has a 50 day moving average price of $40.33 and a 200 day moving average price of $38.34. The company has a quick ratio of 1.13, a current ratio of 2.32 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $64.83 billion, a PE ratio of 37.28, a PEG ratio of 0.87 and a beta of 1.64. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $52.61.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.03% and a net margin of 7.11%. The firm had revenue of $5.73 billion during the quarter, compared to analysts' expectations of $5.36 billion. During the same quarter in the previous year, the business earned $0.32 earnings per share. The firm's revenue was down 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.33%. Freeport-McMoRan's payout ratio is currently 24.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. 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 report on Friday, April 25th. UBS Group lowered their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $52.00 target price on shares of Freeport-McMoRan in a research report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.27.

Check Out Our Latest Stock Report on Freeport-McMoRan

Insiders Place Their Bets

In related news, CAO Ellie L. Mikes sold 8,584 shares of the company'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 transaction, the chief accounting officer owned 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 legal filing with the SEC, which is available at this link. 0.79% of the stock is owned by corporate insiders.

Freeport-McMoRan Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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