North Star Investment Management Corp. Sells 51,562 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

North Star Investment Management Corp. lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 73.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,210 shares of the natural resource company's stock after selling 51,562 shares during the quarter. North Star Investment Management Corp.'s holdings in Freeport-McMoRan were worth $689,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FCX. Brighton Jones LLC lifted its position in shares of Freeport-McMoRan by 24.2% in the fourth 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 last quarter. Gladstone Institutional Advisory LLC raised its stake in Freeport-McMoRan by 110.9% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 9,428 shares of the natural resource company's stock valued at $359,000 after acquiring an additional 4,958 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Freeport-McMoRan by 0.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 597,757 shares of the natural resource company's stock valued at $23,225,000 after purchasing an additional 2,418 shares during the last quarter. Vontobel Holding Ltd. boosted its position in Freeport-McMoRan by 8.3% during the fourth quarter. Vontobel Holding Ltd. now owns 175,287 shares of the natural resource company's stock worth $6,675,000 after purchasing an additional 13,503 shares during the period. Finally, Valeo Financial Advisors LLC boosted its position in Freeport-McMoRan by 15.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 21,819 shares of the natural resource company's stock worth $831,000 after purchasing an additional 2,849 shares during the period. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

NYSE:FCX traded up $0.94 during mid-day trading on Monday, reaching $41.88. The stock had a trading volume of 10,501,332 shares, compared to its average volume of 13,389,929. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $52.61. The stock has a market capitalization of $60.18 billion, a PE ratio of 32.46, a P/E/G ratio of 0.87 and a beta of 1.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The stock has a 50-day simple moving average of $37.39 and a two-hundred day simple moving average of $38.20.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The company's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. On average, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were paid a $0.15 dividend. 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 1.43%. Freeport-McMoRan's payout ratio is currently 24.79%.

Insider Activity at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $40.02, for a total value of $343,531.68. Following the sale, the chief accounting officer now owns 48,333 shares in the company, valued at $1,934,286.66. This trade represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.75% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FCX has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. UBS Group decreased their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective on the stock in a research report on Wednesday, April 16th. Finally, 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. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.