Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 11.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 225,141 shares of the natural resource company's stock after selling 30,530 shares during the period. D.A. Davidson & CO.'s holdings in Freeport-McMoRan were worth $8,524,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FCX. Coppell Advisory Solutions LLC increased 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 in the last quarter. Palogic Value Management L.P. increased its holdings 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 acquiring an additional 292 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in Freeport-McMoRan by 0.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock worth $1,451,000 after acquiring an additional 309 shares during the period. Wolff Wiese Magana LLC raised its position in Freeport-McMoRan by 38.2% during the first quarter. Wolff Wiese Magana LLC now owns 1,153 shares of the natural resource company's stock worth $44,000 after acquiring an additional 319 shares during the period. Finally, Inspire Advisors LLC grew its position in shares of Freeport-McMoRan by 2.6% in the fourth quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company's stock valued at $494,000 after purchasing an additional 325 shares during the period. Hedge funds and other institutional investors own 80.77% of the company's stock.

Wall Street Analysts Forecast Growth

FCX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a research note on Thursday, March 6th. UBS Group decreased their target price 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. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target for the company in a research report on Wednesday, April 16th. Jefferies Financial Group reissued a "buy" rating and issued a $50.00 price objective (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Finally, Hsbc Global Res raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Freeport-McMoRan has an average rating of "Moderate Buy" and an average target price of $48.27.

Freeport-McMoRan Trading Up 0.2%

Shares of FCX traded up $0.09 during midday trading on Friday, reaching $45.86. The company had a trading volume of 7,607,321 shares, compared to its average volume of 13,458,384. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $52.61. 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 firm has a 50 day simple moving average of $40.01 and a 200-day simple moving average of $38.26. The stock has a market cap of $65.90 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 0.86 and a beta of 1.64.

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. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates 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 was down 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. Research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm 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 annualized dividend and a yield of 1.31%. Freeport-McMoRan's payout ratio is 24.79%.

Insiders Place Their Bets

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $40.02, for a total value of $343,531.68. Following the sale, 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 through the SEC website. Insiders own 0.75% of the company's stock.

Freeport-McMoRan 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.