Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Foundations Investment Advisors LLC

Key Points

• Foundations Investment Advisors LLC reduced its holdings in Freeport-McMoRan by 94.7%, selling 191,005 shares to now own only 10,730 shares worth $406,000.
• Several hedge funds have increased their positions in Freeport-McMoRan, with Coppell Advisory Solutions LLC boosting its stake by 47.4% in the fourth quarter.
• Freeport-McMoRan recently reported $0.54 earnings per share for the last quarter, exceeding analysts' estimates, and declared a quarterly dividend of $0.15 per share.

Foundations Investment Advisors LLC trimmed its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 94.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,730 shares of the natural resource company's stock after selling 191,005 shares during the period. Foundations Investment Advisors LLC's holdings in Freeport-McMoRan were worth $406,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Coppell Advisory Solutions LLC boosted its position in Freeport-McMoRan by 47.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock worth $32,000 after acquiring an additional 268 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in Freeport-McMoRan by 0.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 62,015 shares of the natural resource company's stock worth $2,348,000 after purchasing an additional 275 shares during the last quarter. Princeton Capital Management LLC lifted its holdings in Freeport-McMoRan by 1.1% in the 1st quarter. Princeton Capital Management LLC now owns 25,980 shares of the natural resource company's stock worth $984,000 after purchasing an additional 275 shares during the last quarter. Capital Investment Advisory Services LLC lifted its holdings in shares of Freeport-McMoRan by 3.2% during the first quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company's stock worth $345,000 after buying an additional 278 shares during the last quarter. Finally, Sargent Investment Group LLC lifted its holdings in shares of Freeport-McMoRan by 2.8% during the first quarter. Sargent Investment Group LLC now owns 10,421 shares of the natural resource company's stock worth $395,000 after buying an additional 285 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FCX. Raymond James Financial reiterated an "outperform" rating and set a $52.00 price target on shares of Freeport-McMoRan in a report on Friday, April 25th. Wolfe Research upgraded 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. Scotiabank raised their target price on Freeport-McMoRan from $48.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Wednesday, July 9th. Morgan Stanley lowered Freeport-McMoRan from an "overweight" rating to an "equal weight" rating and raised their target price for the company from $45.00 to $54.00 in a research note on Tuesday, July 15th. Finally, Hsbc Global Res cut Freeport-McMoRan from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $51.00.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the business's 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 transaction, the chief accounting officer owned 48,333 shares of the company's stock, valued at $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 available through this link. 0.75% of the stock is owned by company insiders.

Freeport-McMoRan Stock Down 0.5%

Shares of Freeport-McMoRan stock opened at $40.04 on Friday. The business's 50 day simple moving average is $42.72 and its 200 day simple moving average is $39.05. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $52.61. The firm has a market cap of $57.54 billion, a PE ratio of 30.33, a P/E/G ratio of 0.73 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.21 and a current ratio of 2.47.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.09. The business had revenue of $7.58 billion for the quarter, compared to analyst estimates of $6.85 billion. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%. Freeport-McMoRan's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 EPS. On average, analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. Freeport-McMoRan's dividend payout ratio (DPR) is 22.73%.

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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