Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Childress Capital Advisors LLC

Childress Capital Advisors LLC trimmed its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 60.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,247 shares of the natural resource company's stock after selling 11,230 shares during the period. Childress Capital Advisors LLC's holdings in Freeport-McMoRan were worth $274,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock valued at $564,000 after buying an additional 2,882 shares during the period. Bank Pictet & Cie Europe AG increased its stake in Freeport-McMoRan by 27.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company's stock worth $20,565,000 after acquiring an additional 115,552 shares during the last quarter. Truist Financial Corp raised its position in Freeport-McMoRan by 1.7% in the fourth quarter. Truist Financial Corp now owns 136,594 shares of the natural resource company's stock valued at $5,202,000 after purchasing an additional 2,311 shares during the period. Ieq Capital LLC lifted its stake in shares of Freeport-McMoRan by 18.6% in the 4th quarter. Ieq Capital LLC now owns 76,538 shares of the natural resource company's stock valued at $2,915,000 after purchasing an additional 11,984 shares during the last quarter. Finally, Howard Capital Management Inc. grew its holdings in shares of Freeport-McMoRan by 5.5% during the 4th quarter. Howard Capital Management Inc. now owns 9,594 shares of the natural resource company's stock worth $365,000 after purchasing an additional 499 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Up 2.6%

Shares of FCX stock traded up $1.08 during trading hours on Tuesday, reaching $42.02. 10,806,528 shares of the stock were exchanged, compared to its average volume of 13,339,964. The business's fifty day moving average is $38.60 and its two-hundred day moving average is $38.14. The firm has a market capitalization of $60.38 billion, a P/E ratio of 34.73, a P/E/G ratio of 0.80 and a beta of 1.64. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $52.61. 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 (NYSE:FCX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business 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 company's revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. As a group, research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were given a $0.15 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.43%. Freeport-McMoRan's dividend payout ratio (DPR) is presently 24.79%.

Insider Activity at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on FCX shares. Dbs Bank raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Hsbc Global Res raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Wall Street Zen lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Jefferies Financial Group restated a "buy" rating and set a $50.00 price target (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Finally, Wolfe Research raised Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective for the company in a research note on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $48.27.

Freeport-McMoRan Company 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.