Private Wealth Partners LLC Has $9.35 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Private Wealth Partners LLC cut its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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.

Several other hedge funds have also added to or reduced their stakes in FCX. Mizuho Bank Ltd. acquired a new stake in Freeport-McMoRan during the 4th quarter valued at approximately $26,000. Vision Financial Markets LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $29,000. Coppell Advisory Solutions LLC increased its position in shares of Freeport-McMoRan by 47.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock worth $32,000 after buying an additional 268 shares during the period. Finally, City Holding Co. bought a new position in Freeport-McMoRan during the first quarter worth $33,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $41.17 on Friday. The company's 50 day moving average price is $38.15 and its two-hundred day moving average price is $38.21. The company has a quick ratio of 1.13, a current ratio of 2.32 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $52.61. The stock has a market cap of $59.16 billion, a P/E ratio of 34.02, a P/E/G ratio of 0.82 and a beta of 1.64.

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, topping the consensus estimate of $0.23 by $0.01. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. The company had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter last year, the business posted $0.32 EPS. Freeport-McMoRan's quarterly revenue was down 9.4% compared to the same quarter last year. On average, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

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

Wall Street Analyst Weigh In

FCX has been the subject of a number of recent analyst reports. 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 raised Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price for the company in a research note on Wednesday, April 16th. UBS Group dropped their price target on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Jefferies Financial Group reaffirmed a "buy" rating and set a $50.00 price objective (up previously from $48.00) on shares of Freeport-McMoRan in a research report on Friday, April 25th. Finally, Hsbc Global Res upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.27.

Insider Activity

In related news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.75% of the company's stock.

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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