U.S. Capital Wealth Advisors LLC Decreases Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

U.S. Capital Wealth Advisors LLC reduced its position in Freeport-McMoRan Inc. (NYSE:FCX) by 10.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 hedge funds and other institutional investors have also recently bought and sold shares of FCX. Carson Advisory Inc. purchased a new position in shares of Freeport-McMoRan in the fourth quarter valued at $209,000. Benjamin F. Edwards & Company Inc. increased its holdings in Freeport-McMoRan by 5.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 60,540 shares of the natural resource company’s stock valued at $2,578,000 after acquiring an additional 3,231 shares in the last quarter. Natixis Advisors L.P. raised its position in Freeport-McMoRan by 1.7% during the fourth quarter. Natixis Advisors L.P. now owns 1,870,067 shares of the natural resource company’s stock worth $79,608,000 after acquiring an additional 31,571 shares during the last quarter. Mechanics Financial Corp raised its position in Freeport-McMoRan by 8.5% during the fourth quarter. Mechanics Financial Corp now owns 8,740 shares of the natural resource company’s stock worth $372,000 after acquiring an additional 685 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Freeport-McMoRan by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 55,710,695 shares of the natural resource company’s stock valued at $2,371,604,000 after purchasing an additional 1,030,451 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Freeport-McMoRan

In related news, CEO Richard C. Adkerson sold 169,229 shares of Freeport-McMoRan 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 transaction, the chief executive officer now owns 3,707,249 shares in the company, valued at approximately $187,438,509.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Freeport-McMoRan news, VP Douglas N. Currault II sold 55,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $51.99, for a total value of $2,859,450.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard C. Adkerson sold 169,229 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $50.56, for a total transaction of $8,556,218.24. Following the transaction, the chief executive officer now directly owns 3,707,249 shares in the company, valued at $187,438,509.44. The disclosure for this sale can be found here. Insiders sold 310,896 shares of company stock valued at $15,811,399 over the last 90 days. Corporate insiders own 0.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Raymond James raised their price objective on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Argus upped their price objective on Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price objective on shares of Freeport-McMoRan in a research report on Thursday, January 25th. JPMorgan Chase & Co. reduced their target price on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Finally, StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.07.

Freeport-McMoRan Trading Up 3.4 %

FCX stock traded up $1.67 during trading on Friday, reaching $50.45. 14,498,117 shares of the stock traded hands, compared to its average volume of 17,456,276. The firm has a market capitalization of $72.37 billion, a PE ratio of 44.65, a P/E/G ratio of 8.19 and a beta of 2.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.41. The business’s 50 day moving average price is $45.86 and its 200-day moving average price is $40.87. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $52.52.

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

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, April 12th. This represents a $0.60 annualized dividend and a yield of 1.19%. Freeport-McMoRan’s dividend payout ratio is currently 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.