Compass Wealth Management LLC Decreases Position in Freeport-McMoRan Inc. (NYSE:FCX)

Compass Wealth Management LLC trimmed its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 21.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FCX. Quattro Financial Advisors LLC grew its stake in shares of Freeport-McMoRan by 32.1% during the first quarter. Quattro Financial Advisors LLC now owns 65,787 shares of the natural resource company's stock valued at $2,491,000 after buying an additional 15,987 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of Freeport-McMoRan by 8.5% during the 1st quarter. Concurrent Investment Advisors LLC now owns 34,055 shares of the natural resource company's stock worth $1,289,000 after acquiring an additional 2,656 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Freeport-McMoRan by 13.7% during the 1st quarter. Bank of New York Mellon Corp now owns 21,942,063 shares of the natural resource company's stock valued at $830,726,000 after acquiring an additional 2,642,810 shares during the period. Capital Investment Advisory Services LLC grew its position in Freeport-McMoRan by 3.2% in the 1st quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company's stock valued at $345,000 after acquiring an additional 278 shares during the last quarter. Finally, Argyle Capital Management LLC grew its position in Freeport-McMoRan by 27.6% in the 1st quarter. Argyle Capital Management LLC now owns 35,170 shares of the natural resource company's stock valued at $1,332,000 after acquiring an additional 7,604 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction dated Monday, June 2nd. The stock was 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 in the company, valued at $1,934,286.66. The trade was a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is owned by company insiders.

Freeport-McMoRan Stock Up 0.2%

Shares of NYSE:FCX traded up $0.09 during trading hours on Friday, hitting $45.86. The company's stock had a trading volume of 7,607,321 shares, compared to its average volume of 13,479,098. The firm's fifty day moving average price is $40.18 and its 200 day moving average price is $38.29. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $52.61. The company has a market capitalization of $65.90 billion, a price-to-earnings ratio of 37.90, a P/E/G ratio of 0.87 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.32 and a quick ratio of 1.13.

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, topping analysts' consensus estimates of $0.23 by $0.01. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. Freeport-McMoRan's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. As a group, research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.31%. Freeport-McMoRan's payout ratio is 24.79%.

Analysts Set New Price Targets

Several analysts have recently weighed in on FCX shares. Jefferies Financial Group reiterated a "buy" rating and set a $50.00 target price (up from $48.00) on shares of Freeport-McMoRan in a research report on Friday, April 25th. Wolfe Research upgraded shares of 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. Wall Street Zen cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Hsbc Global Res upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Finally, Dbs Bank raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $48.27.

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.