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

Freeport-McMoRan Inc. (NYSE:FCX - Get Free Report) CAO Ellie L. Mikes sold 8,584 shares of the business's 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 in the company, valued at $1,934,286.66. This represents a 15.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Freeport-McMoRan Trading Up 2.0%

Shares of NYSE FCX traded up $0.80 during mid-day trading on Thursday, hitting $41.66. 17,268,790 shares of the company traded hands, compared to its average volume of 13,423,559. The business has a 50 day moving average of $36.30 and a two-hundred day moving average of $38.39. The stock has a market capitalization of $59.87 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 0.87 and a beta of 1.64. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. 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 released its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (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 company's revenue was down 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders 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 annualized dividend and a yield of 1.44%. Freeport-McMoRan's payout ratio is 24.79%.

Hedge Funds Weigh In On Freeport-McMoRan

Large investors have recently made changes to their positions in the company. Asset Planning Inc acquired a new position in Freeport-McMoRan in the fourth quarter valued at about $25,000. Mizuho Bank Ltd. acquired a new position in Freeport-McMoRan in 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. Roxbury Financial LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Freeport-McMoRan in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a research report on Thursday, March 6th. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target on the stock in a research note on Wednesday, April 16th. UBS Group dropped their target price on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Scotiabank raised their price objective on Freeport-McMoRan from $40.00 to $43.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 14th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan has an average rating of "Moderate Buy" and a consensus price target of $47.82.

About Freeport-McMoRan

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.