Freeport-McMoRan Inc. $FCX Shares Sold by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 32.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,080 shares of the natural resource company's stock after selling 43,729 shares during the quarter. Freestone Capital Holdings LLC's holdings in Freeport-McMoRan were worth $4,626,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FCX. Wellington Management Group LLP increased its stake in Freeport-McMoRan by 190.9% in the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company's stock valued at $1,431,326,000 after buying an additional 23,950,557 shares during the period. Voya Investment Management LLC increased its stake in Freeport-McMoRan by 289.0% in the 3rd quarter. Voya Investment Management LLC now owns 3,844,504 shares of the natural resource company's stock valued at $150,781,000 after buying an additional 2,856,302 shares during the period. AQR Capital Management LLC increased its stake in Freeport-McMoRan by 205.0% in the 2nd quarter. AQR Capital Management LLC now owns 4,186,621 shares of the natural resource company's stock valued at $181,490,000 after buying an additional 2,813,845 shares during the period. Amundi increased its stake in Freeport-McMoRan by 43.7% in the 3rd quarter. Amundi now owns 7,018,624 shares of the natural resource company's stock valued at $282,991,000 after buying an additional 2,132,708 shares during the period. Finally, Kirkoswald Asset Management LLC acquired a new position in Freeport-McMoRan in the 3rd quarter valued at $82,754,200,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on FCX. CICC Research boosted their price objective on shares of Freeport-McMoRan from $50.40 to $64.40 and gave the company an "outperform" rating in a research note on Monday, January 26th. JPMorgan Chase & Co. boosted their price objective on shares of Freeport-McMoRan from $68.00 to $76.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. BNP Paribas Exane boosted their price objective on shares of Freeport-McMoRan from $56.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Morgan Stanley set a $70.00 price objective on shares of Freeport-McMoRan in a research note on Tuesday, January 27th. Finally, BMO Capital Markets upped their price target on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $63.11.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $68.09 on Tuesday. The stock has a market cap of $97.85 billion, a PE ratio of 45.09, a price-to-earnings-growth ratio of 0.80 and a beta of 1.48. Freeport-McMoRan Inc. has a fifty-two week low of $32.12 and a fifty-two week high of $69.75. The firm's fifty day simple moving average is $61.62 and its 200-day simple moving average is $52.18. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.19. The firm had revenue of $5.63 billion for the quarter, compared to analysts' expectations of $5.42 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The firm's revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 EPS. Analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, April 15th. Freeport-McMoRan's dividend payout ratio is presently 19.87%.

Insider Transactions at Freeport-McMoRan

In related news, CFO Maree E. Robertson sold 48,500 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $61.55, for a total value of $2,985,175.00. Following the sale, the chief financial officer directly owned 79,894 shares of the company's stock, valued at approximately $4,917,475.70. This represents a 37.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Stephen T. Higgins sold 29,654 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $63.00, for a total transaction of $1,868,202.00. Following the completion of the sale, the chief accounting officer directly owned 76,445 shares in the company, valued at approximately $4,816,035. The trade was a 27.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 565,145 shares of company stock worth $35,839,918 in the last 90 days. Insiders own 0.79% of the company's stock.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.

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