Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Private Wealth Partners LLC

Private Wealth Partners LLC reduced its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,067 shares of the natural resource company's stock after selling 11,560 shares during the quarter. Private Wealth Partners LLC's holdings in Freeport-McMoRan were worth $9,354,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mizuho Bank Ltd. acquired a new position in Freeport-McMoRan in the 4th quarter valued at about $26,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC grew its position in Freeport-McMoRan by 47.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock valued at $32,000 after acquiring an additional 268 shares in the last quarter. Finally, City Holding Co. acquired a new position in Freeport-McMoRan in the 1st quarter valued at about $33,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FCX shares. Scotiabank raised Freeport-McMoRan from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the stock from $43.00 to $48.00 in a research report on Monday, June 16th. JPMorgan Chase & Co. lowered their price objective on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. UBS Group lowered their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Raymond James Financial reissued an "outperform" rating and set a $52.00 price objective on shares of Freeport-McMoRan in a research report on Friday, April 25th. Finally, Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Four 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. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus target price of $48.27.

Insider Activity

In other 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 value 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 represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.79% of the company's stock.

Freeport-McMoRan Stock Up 1.8%

Freeport-McMoRan stock traded up $0.74 during mid-day trading on Monday, hitting $40.96. The company had a trading volume of 11,673,307 shares, compared to its average volume of 13,342,078. The stock has a market cap of $58.86 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 0.80 and a beta of 1.65. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $52.61. The company has a quick ratio of 1.13, a current ratio of 2.32 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $38.43 and a 200 day moving average of $38.12.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 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 net margin of 7.11% and a return on equity of 7.03%. The firm's revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were paid a $0.15 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.46%. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

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.