Exchange Traded Concepts LLC Sells 6,939 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Exchange Traded Concepts LLC trimmed its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 46.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,099 shares of the natural resource company's stock after selling 6,939 shares during the period. Exchange Traded Concepts LLC's holdings in Freeport-McMoRan were worth $307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mizuho Bank Ltd. bought a new stake in shares of Freeport-McMoRan during the 4th quarter valued at $26,000. Vision Financial Markets LLC bought a new stake in shares of Freeport-McMoRan during the 4th quarter valued at $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Freeport-McMoRan during the 4th quarter valued at $29,000. Coppell Advisory Solutions LLC raised 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 purchasing an additional 268 shares during the period. Finally, City Holding Co. bought a new stake in shares of Freeport-McMoRan during the 1st quarter valued at $33,000. 80.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 48,333 shares of the company's stock, valued at approximately $1,934,286.66. The trade was a 15.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.75% of the stock is owned by corporate insiders.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX opened at $40.18 on Friday. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $52.61. The stock has a market capitalization of $57.74 billion, a P/E ratio of 33.20, a PEG ratio of 0.80 and a beta of 1.64. The firm has a fifty day simple moving average of $38.28 and a two-hundred day simple moving average of $38.16. 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 (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. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. The business 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 EPS. The business's revenue was down 9.4% on a year-over-year basis. On average, analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.49%. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

Analyst Ratings Changes

Several equities analysts recently weighed in on FCX shares. Raymond James Financial reaffirmed an "outperform" rating and set a $52.00 target price on shares of Freeport-McMoRan in a research note on Friday, April 25th. UBS Group cut 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 note on Tuesday, April 15th. Jefferies Financial Group reaffirmed a "buy" rating and set a $50.00 target price (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Wolfe Research raised shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price for the company in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Four 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 data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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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