Envestnet Portfolio Solutions Inc. Has $885,000 Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Envestnet Portfolio Solutions Inc. decreased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 35.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 23,383 shares of the natural resource company's stock after selling 13,022 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Freeport-McMoRan were worth $885,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Community Bank N.A. boosted its holdings in shares of Freeport-McMoRan by 18.5% during the first quarter. Community Bank N.A. now owns 39,571 shares of the natural resource company's stock worth $1,498,000 after acquiring an additional 6,188 shares during the period. State of Alaska Department of Revenue boosted its stake in Freeport-McMoRan by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 168,375 shares of the natural resource company's stock valued at $6,374,000 after purchasing an additional 4,555 shares during the period. CWA Asset Management Group LLC boosted its stake in Freeport-McMoRan by 3.7% in the 1st quarter. CWA Asset Management Group LLC now owns 14,038 shares of the natural resource company's stock valued at $531,000 after purchasing an additional 507 shares during the period. Kingswood Wealth Advisors LLC grew its holdings in Freeport-McMoRan by 1.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 33,307 shares of the natural resource company's stock valued at $1,261,000 after buying an additional 327 shares in the last quarter. Finally, Clarius Group LLC increased its position in Freeport-McMoRan by 48.9% during the 1st quarter. Clarius Group LLC now owns 13,140 shares of the natural resource company's stock worth $497,000 after buying an additional 4,317 shares during the period. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $41.64 on Thursday. The business has a fifty day simple moving average of $38.77 and a 200 day simple moving average of $38.17. The company has a market cap of $59.84 billion, a P/E ratio of 34.41, a P/E/G ratio of 0.82 and a beta of 1.64. The company has a quick ratio of 1.13, a current ratio of 2.32 and a debt-to-equity ratio of 0.30. 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 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $5.73 billion during the quarter, compared to analysts' expectations of $5.36 billion. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. The business's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders 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 1.44%. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

Insiders Place Their Bets

In other 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 transaction of $343,531.68. Following the sale, the chief accounting officer now directly owns 48,333 shares of the company's stock, valued at approximately $1,934,286.66. This trade represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.75% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on FCX. Wall Street Zen downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. UBS Group dropped their price target 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. Wolfe Research raised Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target on the stock in a research report on Wednesday, April 16th. Finally, Royal Bank Of Canada lifted their price objective on Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus target price of $48.27.

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.

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