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

Dakota Wealth Management lessened its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,169 shares of the natural resource company's stock after selling 5,987 shares during the period. Dakota Wealth Management's holdings in Freeport-McMoRan were worth $3,111,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mizuho Bank Ltd. acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $26,000. Coppell Advisory Solutions LLC lifted its position in shares of Freeport-McMoRan by 47.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock valued at $32,000 after acquiring an additional 268 shares during the period. City Holding Co. bought a new stake in shares of Freeport-McMoRan during the 1st quarter valued at $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Freeport-McMoRan during the 4th quarter valued at $35,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth $40,000. Institutional investors own 80.77% of the company's stock.

Wall Street Analyst Weigh In

FCX has been the subject of several research reports. UBS Group downgraded Freeport-McMoRan from a "buy" rating to a "neutral" rating and increased their target price for the company from $45.00 to $50.00 in a research report on Friday. Morgan Stanley downgraded Freeport-McMoRan from an "overweight" rating to an "equal weight" rating and increased their target price for the company from $45.00 to $54.00 in a research report on Tuesday. Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Stifel Canada upgraded Freeport-McMoRan to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Scotiabank raised their target price on Freeport-McMoRan from $48.00 to $52.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, July 9th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $50.71.

Insider Buying and Selling at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $40.02, for a total transaction of $343,531.68. Following the completion of the sale, the chief accounting officer owned 48,333 shares of the company's stock, valued at approximately $1,934,286.66. The trade was a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.79% of the company's stock.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock traded down $1.40 during trading on Tuesday, reaching $44.23. 20,307,644 shares of the stock traded hands, compared to its average volume of 13,840,119. The company has a market capitalization of $63.56 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 0.88 and a beta of 1.64. The business has a fifty day simple moving average of $41.09 and a two-hundred day simple moving average of $38.54. 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 Inc. has a 52-week low of $27.66 and a 52-week high of $52.61.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the previous year, the business earned $0.32 earnings per share. The company's revenue for the quarter was down 9.4% compared to the same quarter last year. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

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 paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.36%. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

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.