Freeport-McMoRan Inc. (NYSE:FCX) CAO Ellie L. Mikes Sells 8,584 Shares

Freeport-McMoRan Inc. (NYSE:FCX - Get Free Report) 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 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 $1,934,286.66. This trade represents a 15.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Freeport-McMoRan Stock Down 0.5%

NYSE FCX traded down $0.19 on Friday, reaching $41.50. The stock had a trading volume of 8,500,990 shares, compared to its average volume of 13,416,689. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $52.61. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $59.64 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 0.87 and a beta of 1.64. The business has a 50 day moving average price of $36.45 and a 200 day moving average price of $38.36.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The firm 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 business's quarterly revenue was down 9.4% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS. On average, analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is 24.79%.

Institutional Trading of Freeport-McMoRan

Institutional investors have recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC increased its holdings 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 worth $32,000 after purchasing an additional 268 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in Freeport-McMoRan by 0.4% in the first quarter. Kestra Private Wealth Services LLC now owns 62,015 shares of the natural resource company's stock worth $2,348,000 after purchasing an additional 275 shares during the last quarter. Princeton Capital Management LLC grew its position in Freeport-McMoRan by 1.1% during the first quarter. Princeton Capital Management LLC now owns 25,980 shares of the natural resource company's stock valued at $984,000 after buying an additional 275 shares during the period. Capital Investment Advisory Services LLC increased its position in Freeport-McMoRan by 3.2% in the first quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company's stock worth $345,000 after buying an additional 278 shares during the last quarter. Finally, Capital Analysts LLC grew its position in shares of Freeport-McMoRan by 12.5% in the first 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 in the last quarter. 80.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FCX shares. 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. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. lowered their price target on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. UBS Group lowered their target price on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Jefferies Financial Group restated a "buy" rating and set a $50.00 price objective (up previously from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $47.82.

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.