Teamwork Financial Advisors LLC Sells 1,836 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Teamwork Financial Advisors LLC trimmed its position in Freeport-McMoRan Inc. (NYSE:FCX) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,124 shares of the natural resource company’s stock after selling 1,836 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Freeport-McMoRan were worth $1,134,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FCX. Boston Partners grew its stake in Freeport-McMoRan by 13,248.4% during the fourth quarter. Boston Partners now owns 5,351,630 shares of the natural resource company’s stock worth $227,747,000 after buying an additional 5,311,538 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in Freeport-McMoRan during the fourth quarter valued at approximately $66,993,000. TD Asset Management Inc lifted its stake in Freeport-McMoRan by 35.0% during the fourth quarter. TD Asset Management Inc now owns 5,777,840 shares of the natural resource company’s stock worth $245,963,000 after purchasing an additional 1,498,259 shares during the last quarter. Penserra Capital Management LLC lifted its stake in Freeport-McMoRan by 16,058.7% during the third quarter. Penserra Capital Management LLC now owns 1,500,338 shares of the natural resource company’s stock worth $55,947,000 after purchasing an additional 1,491,053 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Freeport-McMoRan by 4,857.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,324,452 shares of the natural resource company’s stock valued at $56,382,000 after purchasing an additional 1,297,737 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Stephen T. Higgins sold 42,767 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $50.35, for a total transaction of $2,153,318.45. Following the sale, the chief accounting officer now owns 104,377 shares of the company’s stock, valued at $5,255,381.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 hyperlink. Also, CAO Stephen T. Higgins sold 42,767 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $50.35, for a total transaction 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 445,667 shares of company stock worth $22,755,070 over the last three months. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FCX. Argus upped their price objective on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. decreased their price target on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft raised their target price on Freeport-McMoRan from $48.00 to $51.00 and gave the stock a “hold” rating in a research note on Monday, June 10th. Finally, BNP Paribas raised Freeport-McMoRan to a “strong-buy” rating in a research note on Friday, June 21st. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.93.

Freeport-McMoRan Price Performance

Shares of FCX traded up $1.94 during trading hours on Thursday, reaching $50.65. 8,913,699 shares of the company’s stock traded hands, compared to its average volume of 10,552,033. The firm’s 50 day simple moving average is $50.65 and its 200-day simple moving average is $45.34. The stock has a market cap of $72.76 billion, a PE ratio of 44.82, a price-to-earnings-growth ratio of 2.00 and a beta of 1.92. 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 12 month low of $32.83 and a 12 month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. Equities analysts expect that Freeport-McMoRan Inc. will post 1.74 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Monday, July 15th. Freeport-McMoRan’s 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.