Sowell Financial Services LLC Has $597,000 Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Sowell Financial Services LLC lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 38.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,774 shares of the natural resource company's stock after selling 9,978 shares during the quarter. Sowell Financial Services LLC's holdings in Freeport-McMoRan were worth $597,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Coppell Advisory Solutions LLC lifted its stake in Freeport-McMoRan by 47.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock valued at $32,000 after buying an additional 268 shares during the period. Palogic Value Management L.P. increased its stake in shares of Freeport-McMoRan by 1.5% in the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock valued at $772,000 after acquiring an additional 292 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Freeport-McMoRan by 0.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock valued at $1,451,000 after acquiring an additional 309 shares during the period. Inspire Advisors LLC boosted its stake in Freeport-McMoRan by 2.6% during the 4th quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company's stock worth $494,000 after acquiring an additional 325 shares during the last quarter. Finally, Gables Capital Management Inc. boosted its stake in Freeport-McMoRan by 2.2% during the 4th quarter. Gables Capital Management Inc. now owns 18,301 shares of the natural resource company's stock worth $697,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Up 1.8%

Shares of Freeport-McMoRan stock traded up $0.74 during trading hours on Monday, reaching $40.96. 11,673,307 shares of the company's stock were exchanged, compared to its average volume of 13,342,078. The company has a current ratio of 2.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average of $38.43 and a two-hundred day moving average of $38.12. The stock has a market cap of $58.86 billion, a P/E ratio of 33.85, a P/E/G ratio of 0.80 and a beta of 1.65. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $52.61.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The firm's revenue for the quarter was down 9.4% on a year-over-year basis. On average, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were given 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 1.46%. Freeport-McMoRan's payout ratio is 24.79%.

Wall Street Analysts Forecast Growth

FCX has been the topic of several analyst reports. Wolfe Research upgraded shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price on the stock in a report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. Royal Bank Of Canada lifted their target price on Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Scotiabank raised Freeport-McMoRan from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $43.00 to $48.00 in a research report on Monday, June 16th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Freeport-McMoRan currently has a consensus rating of "Moderate Buy" and an average price target of $48.27.

Insider Activity at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $40.02, for a total transaction of $343,531.68. Following the completion of the transaction, the chief accounting officer now directly owns 48,333 shares of the company's stock, valued at $1,934,286.66. The trade was a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.79% of the stock is owned by company insiders.

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.