Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 10.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 207,190 shares of the natural resource company's stock after selling 24,584 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Freeport-McMoRan were worth $8,820,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bruce G. Allen Investments LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at about $27,000. BluePath Capital Management LLC purchased a new stake in Freeport-McMoRan during the 3rd quarter worth approximately $28,000. Webster Bank N. A. raised its holdings in shares of Freeport-McMoRan by 6,469.2% during the fourth quarter. Webster Bank N. A. now owns 854 shares of the natural resource company's stock valued at $36,000 after acquiring an additional 841 shares during the last quarter. CVA Family Office LLC purchased a new position in shares of Freeport-McMoRan in the fourth quarter valued at approximately $38,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Freeport-McMoRan by 122.5% in the fourth quarter. Venturi Wealth Management LLC now owns 930 shares of the natural resource company's stock worth $40,000 after acquiring an additional 512 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Insider Activity at Freeport-McMoRan

In other Freeport-McMoRan news, VP Douglas N. Currault II sold 55,000 shares of the firm's stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the transaction, the vice president now owns 164,067 shares of the company's stock, valued at $8,529,843.33. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Richard C. Adkerson sold 169,229 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $50.56, for a total transaction of $8,556,218.24. Following the completion of the sale, the chief executive officer now owns 3,707,249 shares in the company, valued at approximately $187,438,509.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Douglas N. Currault II sold 55,000 shares of the firm's stock in a transaction on Monday, April 29th. The stock was sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the transaction, the vice president now directly owns 164,067 shares in the company, valued at $8,529,843.33. The disclosure for this sale can be found here. Insiders sold a total of 310,896 shares of company stock valued at $15,811,399 over the last ninety days. Insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on FCX shares. StockNews.com upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating in a report on Thursday, April 25th. Bank of America upgraded shares of Freeport-McMoRan from a "neutral" rating to a "buy" rating and set a $59.00 price target on the stock in a research report on Tuesday, April 9th. HSBC increased their price objective on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the company a "hold" rating in a report on Tuesday, April 23rd. Sanford C. Bernstein upgraded Freeport-McMoRan from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $41.00 to $48.50 in a report on Monday, January 8th. Finally, Bernstein Bank raised their price objective on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the stock an "overweight" rating in a research report on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.07.

Freeport-McMoRan Stock Up 3.4 %

Shares of Freeport-McMoRan stock traded up $1.67 during trading on Friday, hitting $50.45. 14,498,117 shares of the stock were exchanged, compared to its average volume of 17,456,276. The stock has a market cap of $72.37 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 8.19 and a beta of 2.02. The firm's 50-day moving average price is $45.86 and its 200 day moving average price is $40.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.41. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month high of $52.52.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The business had revenue of $6.32 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same period in the prior year, the firm posted $0.52 EPS. The business's quarterly revenue was up 17.3% compared to the same quarter last year. As a group, analysts forecast that Freeport-McMoRan Inc. will post 1.66 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 15th were given a $0.15 dividend. The ex-dividend date was Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. Freeport-McMoRan's dividend payout ratio (DPR) is presently 26.55%.

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.