U.S. Capital Wealth Advisors LLC Sells 24,584 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

U.S. Capital Wealth Advisors LLC reduced its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 10.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and 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 filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Dakota Wealth Management lifted its holdings in shares of Freeport-McMoRan by 2.7% during the third quarter. Dakota Wealth Management now owns 21,032 shares of the natural resource company’s stock valued at $784,000 after acquiring an additional 551 shares during the period. Raymond James & Associates boosted its position in Freeport-McMoRan by 5.1% in the third quarter. Raymond James & Associates now owns 2,180,382 shares of the natural resource company’s stock valued at $81,306,000 after buying an additional 106,410 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Freeport-McMoRan by 31.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 445,052 shares of the natural resource company’s stock valued at $16,596,000 after buying an additional 105,215 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in Freeport-McMoRan by 81.0% during the third quarter. Stratos Wealth Partners LTD. now owns 79,045 shares of the natural resource company’s stock worth $2,948,000 after buying an additional 35,382 shares during the last quarter. Finally, Stratos Wealth Advisors LLC increased its holdings in shares of Freeport-McMoRan by 9.9% during the third quarter. Stratos Wealth Advisors LLC now owns 8,045 shares of the natural resource company’s stock worth $300,000 after buying an additional 726 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Sanford C. Bernstein upgraded Freeport-McMoRan from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $41.00 to $48.50 in a research report on Monday, January 8th. Bank of America upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, April 9th. Argus lifted their price target on Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, April 25th. HSBC increased their price objective on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Finally, 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 research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus target price of $50.07.

Freeport-McMoRan Trading Up 3.4 %

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

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The company 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 business posted $0.52 EPS. Freeport-McMoRan’s revenue was up 17.3% on a year-over-year basis. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.66 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were issued a $0.15 dividend. 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 (DPR) is presently 26.55%.

Insider Transactions at Freeport-McMoRan

In related news, 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 sale, the vice president now owns 164,067 shares of the company’s stock, valued at approximately $8,529,843.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Freeport-McMoRan news, CEO Richard C. Adkerson sold 169,229 shares of Freeport-McMoRan stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $50.56, for a total value of $8,556,218.24. Following the transaction, the chief executive officer now owns 3,707,249 shares of the company’s stock, valued at $187,438,509.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Douglas N. Currault II sold 55,000 shares of the 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 sale, the vice president now directly owns 164,067 shares of the company’s stock, valued at approximately $8,529,843.33. The disclosure for this sale can be found here. Insiders have sold a total of 310,896 shares of company stock valued at $15,811,399 over the last three months. 0.78% of the stock is currently owned by corporate insiders.

Freeport-McMoRan 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.