Stephens Inc. AR Sells 13,533 Shares of Freeport-McMoRan Inc. $FCX

Stephens Inc. AR lessened its position in Freeport-McMoRan Inc. (NYSE:FCX) by 19.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,355 shares of the natural resource company’s stock after selling 13,533 shares during the period. Stephens Inc. AR’s holdings in Freeport-McMoRan were worth $2,811,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FCX. JPL Wealth Management LLC bought a new position in shares of Freeport-McMoRan in the 3rd quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Freeport-McMoRan in the 3rd quarter valued at about $36,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Freeport-McMoRan in the 4th quarter valued at about $38,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Freeport-McMoRan in the 3rd quarter valued at about $39,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Freeport-McMoRan in the 4th quarter valued at about $43,000. Institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on FCX shares. Scotiabank cut their target price on shares of Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating for the company in a research note on Friday, April 24th. Wall Street Zen cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freeport-McMoRan in a research note on Friday. Weiss Ratings upgraded shares of Freeport-McMoRan from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Finally, CICC Research dropped their price objective on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus target price of $65.14.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $60.51 on Tuesday. The company has a 50-day simple moving average of $61.41 and a two-hundred day simple moving average of $55.92. The stock has a market capitalization of $86.98 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 0.76 and a beta of 1.32. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $70.96.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. The company had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS. Analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were given a $0.075 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s payout ratio is presently 15.96%.

Insider Activity at Freeport-McMoRan

In other news, CAO Stephen T. Higgins sold 29,654 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $63.00, for a total value of $1,868,202.00. Following the completion of the transaction, the chief accounting officer directly owned 76,445 shares in the company, valued at approximately $4,816,035. The trade was a 27.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ellie L. Mikes sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $62.03, for a total transaction of $682,330.00. Following the completion of the transaction, the chief accounting officer owned 40,773 shares of the company’s stock, valued at $2,529,149.19. The trade was a 21.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.79% of the stock is currently owned by insiders.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.