Jump Financial LLC Has $1.33 Million Holdings in Freeport-McMoRan Inc. $FCX

Key Points

• Jump Financial LLC has reduced its stake in Freeport-McMoRan Inc. by 80.2%, selling 142,536 shares and retaining 35,122 shares valued at $1.33 million.
• Freeport-McMoRan reported $0.54 earnings per share for the latest quarter, surpassing analysts' expectations of $0.45, with revenue increasing by 14.5% year-over-year to $7.58 billion.
• The company recently declared a quarterly dividend of $0.15 per share, reflecting an annualized payout of $0.60 and a dividend yield of 1.4%.

Jump Financial LLC lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 80.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,122 shares of the natural resource company's stock after selling 142,536 shares during the quarter. Jump Financial LLC's holdings in Freeport-McMoRan were worth $1,330,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its stake in shares of 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 valued at $2,348,000 after purchasing an additional 275 shares during the last quarter. Princeton Capital Management LLC boosted its stake in shares of 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 valued at $984,000 after purchasing an additional 275 shares during the last quarter. Capital Investment Advisory Services LLC boosted its stake in shares of Freeport-McMoRan by 3.2% in the 1st quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company's stock valued at $345,000 after purchasing an additional 278 shares during the last quarter. Capital Analysts LLC boosted its stake in shares of Freeport-McMoRan by 12.5% in the 1st quarter. Capital Analysts LLC now owns 2,550 shares of the natural resource company's stock valued at $96,000 after purchasing an additional 284 shares during the last quarter. Finally, Sargent Investment Group LLC boosted its stake in shares of Freeport-McMoRan by 2.8% in the 1st quarter. Sargent Investment Group LLC now owns 10,421 shares of the natural resource company's stock valued at $395,000 after purchasing an additional 285 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Up 0.1%

FCX stock traded up $0.05 during mid-day trading on Friday, hitting $44.42. 7,369,039 shares of the company were exchanged, compared to its average volume of 10,157,981. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.21 and a current ratio of 2.47. The firm has a market cap of $63.78 billion, a P/E ratio of 33.65, a P/E/G ratio of 0.84 and a beta of 1.59. The firm's 50 day simple moving average is $43.34 and its 200 day simple moving average is $39.65. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $52.61.

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

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th were issued a $0.15 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. Freeport-McMoRan's dividend payout ratio (DPR) is 22.73%.

Insider Activity

In other news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan 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 directly owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FCX has been the topic of a number of analyst reports. Bank of America reiterated a "neutral" rating and issued a $56.00 price target on shares of Freeport-McMoRan in a research report on Wednesday, July 9th. Royal Bank Of Canada increased their price target on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. increased their price target on shares of Freeport-McMoRan from $42.00 to $56.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Stifel Nicolaus initiated coverage on shares of Freeport-McMoRan in a research report on Wednesday, July 9th. They issued a "buy" rating and a $56.00 price target on the stock. Finally, BMO Capital Markets cut their price target on shares of Freeport-McMoRan from $55.00 to $54.00 and set an "outperform" rating on the stock in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $51.00.

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.