Stokes Family Office LLC Has $246,000 Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Stokes Family Office LLC decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 69.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,790 shares of the natural resource company’s stock after selling 13,221 shares during the quarter. Stokes Family Office LLC’s holdings in Freeport-McMoRan were worth $246,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Carson Advisory Inc. bought a new stake in Freeport-McMoRan during the fourth quarter worth $209,000. Benjamin F. Edwards & Company Inc. raised its position in Freeport-McMoRan by 5.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 60,540 shares of the natural resource company’s stock worth $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 in 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 in the last quarter. Finally, Fisher Asset Management LLC raised its position in Freeport-McMoRan by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 55,710,695 shares of the natural resource company’s stock worth $2,371,604,000 after acquiring an additional 1,030,451 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock traded up $1.67 during trading hours on Friday, reaching $50.45. 14,498,117 shares of the stock were exchanged, compared to its average volume of 17,456,276. The company has a market cap of $72.37 billion, a P/E ratio of 44.66, a price-to-earnings-growth ratio of 7.92 and a beta of 2.02. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $52.52. The stock has a 50 day moving average of $45.86 and a two-hundred day moving average of $40.84.

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

Freeport-McMoRan Dividend Announcement

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

Insider Activity

In related news, CAO Stephen T. Higgins sold 43,900 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $51.08, for a total transaction of $2,242,412.00. Following the sale, the chief accounting officer now directly owns 104,377 shares in the company, valued at approximately $5,331,577.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Stephen T. Higgins sold 43,900 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $51.08, for a total transaction of $2,242,412.00. Following the sale, the chief accounting officer now directly owns 104,377 shares in the company, valued at approximately $5,331,577.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard C. Adkerson sold 169,229 shares of Freeport-McMoRan stock in a transaction that occurred 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 sale, the chief executive officer now owns 3,707,249 shares in the company, valued at $187,438,509.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 310,896 shares of company stock worth $15,811,399. Corporate insiders own 0.78% of the company’s stock.

Analysts Set New Price Targets

FCX has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Raymond James increased their price objective on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. 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 research report on Tuesday, April 23rd. Argus increased their price objective on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $41.00 to $48.50 in a research report on Monday, January 8th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and an average price target of $50.07.

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.