Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Compass Wealth Management LLC

Compass Wealth Management LLC lessened its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 21.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 32,786 shares of the natural resource company's stock after selling 9,006 shares during the period. Compass Wealth Management LLC's holdings in Freeport-McMoRan were worth $1,241,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of FCX. Coppell Advisory Solutions LLC grew its holdings in shares of Freeport-McMoRan by 47.4% during 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. Capital Investment Advisory Services LLC raised its holdings in shares of Freeport-McMoRan by 3.2% in the first quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company's stock valued at $345,000 after purchasing an additional 278 shares during the last quarter. Palogic Value Management L.P. grew its position 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 worth $772,000 after purchasing an additional 292 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of 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 worth $1,451,000 after buying an additional 309 shares in the last quarter. Finally, Wolff Wiese Magana LLC grew its holdings in shares of Freeport-McMoRan by 38.2% in the first quarter. Wolff Wiese Magana LLC now owns 1,153 shares of the natural resource company's stock valued at $44,000 after acquiring an additional 319 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

Analyst Upgrades and Downgrades

FCX has been the subject of several research analyst reports. Wolfe Research raised Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price for the company in a research report on Wednesday, April 16th. Royal Bank Of Canada lifted 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. UBS Group reduced their target price on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Raymond James Financial reiterated an "outperform" rating and issued a $52.00 price objective on shares of Freeport-McMoRan in a research note on Friday, April 25th. Finally, Wall Street Zen lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $48.27.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock traded down $0.90 during mid-day trading on Monday, hitting $44.90. The stock had a trading volume of 5,938,140 shares, compared to its average volume of 13,449,967. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $52.61. The company has a current ratio of 2.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $64.53 billion, a P/E ratio of 37.16, a P/E/G ratio of 0.87 and a beta of 1.64. The firm's 50 day moving average is $40.18 and its 200 day moving average is $38.29.

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, beating the consensus estimate of $0.23 by $0.01. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. The company had revenue of $5.73 billion during the quarter, compared to analysts' expectations of $5.36 billion. During the same period last year, the company posted $0.32 earnings per share. Freeport-McMoRan's quarterly revenue was down 9.4% on a year-over-year basis. On average, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.34%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 24.79%.

Insider Activity

In related news, CAO Ellie L. Mikes sold 8,584 shares of the firm's 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 transaction, the chief accounting officer owned 48,333 shares of the company's stock, valued at $1,934,286.66. This trade represents a 15.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.79% of the stock is owned by company 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.