Hyman Charles D Cuts Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Hyman Charles D trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 410,335 shares of the natural resource company’s stock after selling 3,140 shares during the period. Hyman Charles D’s holdings in Freeport-McMoRan were worth $17,468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in FCX. Bruce G. Allen Investments LLC purchased a new stake in Freeport-McMoRan during the 4th quarter valued at approximately $27,000. BluePath Capital Management LLC bought a new stake in Freeport-McMoRan in the 3rd quarter valued at $28,000. Webster Bank N. A. lifted its stake in Freeport-McMoRan by 6,469.2% in the 4th quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock worth $36,000 after purchasing an additional 841 shares in the last quarter. CVA Family Office LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter valued at about $38,000. Finally, Venturi Wealth Management LLC grew its position in shares of Freeport-McMoRan by 122.5% during the fourth quarter. Venturi Wealth Management LLC now owns 930 shares of the natural resource company’s stock valued at $40,000 after purchasing an additional 512 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 2.8 %

FCX stock traded down $1.43 during mid-day trading on Wednesday, reaching $49.96. The company had a trading volume of 14,150,824 shares, compared to its average volume of 14,289,620. The firm has a 50 day moving average of $46.38 and a 200 day moving average of $41.14. 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. The company has a market capitalization of $71.66 billion, a PE ratio of 44.21, a price-to-earnings-growth ratio of 8.19 and a beta of 2.02.

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 the consensus estimate of $0.27 by $0.05. The company had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. Freeport-McMoRan’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, equities analysts predict that Freeport-McMoRan Inc. will post 1.66 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders 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 dividend yield of 1.20%. Freeport-McMoRan’s dividend payout ratio is currently 26.55%.

Insider Activity at Freeport-McMoRan

In other Freeport-McMoRan news, CEO Richard C. Adkerson sold 169,229 shares of the stock in a transaction dated 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 directly 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 this hyperlink. In other Freeport-McMoRan news, CEO Richard C. Adkerson sold 169,229 shares of the company’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 completion of the sale, the chief executive officer now owns 3,707,249 shares in the company, valued at $187,438,509.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Stephen T. Higgins sold 42,767 shares of Freeport-McMoRan stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $50.35, for a total value of $2,153,318.45. Following the completion of the transaction, the chief accounting officer now owns 104,377 shares in the company, valued at approximately $5,255,381.95. The disclosure for this sale can be found here. Insiders sold 365,667 shares of company stock worth $18,592,670 over the last three months. 0.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FCX. Bank of America upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Tuesday, April 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price target on shares of Freeport-McMoRan in a research report on Thursday, January 25th. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Scotiabank lowered their price target on shares of Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating for the company in a report on Wednesday, April 24th. Finally, Bernstein Bank upped their price objective on Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.07.

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.