ORG Partners LLC Trims Stake in Freeport-McMoRan Inc. (NYSE:FCX)

ORG Partners LLC trimmed its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 50.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 961 shares of the natural resource company’s stock after selling 980 shares during the period. ORG Partners LLC’s holdings in Freeport-McMoRan were worth $37,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FCX. Brighton Jones LLC increased its stake in shares of Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after purchasing an additional 2,882 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Freeport-McMoRan by 27.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company’s stock worth $20,565,000 after buying an additional 115,552 shares during the period. Truist Financial Corp boosted its holdings in Freeport-McMoRan by 1.7% in the 4th quarter. Truist Financial Corp now owns 136,594 shares of the natural resource company’s stock worth $5,202,000 after buying an additional 2,311 shares during the period. Ieq Capital LLC boosted its holdings in Freeport-McMoRan by 18.6% in the 4th quarter. Ieq Capital LLC now owns 76,538 shares of the natural resource company’s stock worth $2,915,000 after buying an additional 11,984 shares during the period. Finally, Howard Capital Management Inc. boosted its holdings in Freeport-McMoRan by 5.5% in the 4th quarter. Howard Capital Management Inc. now owns 9,594 shares of the natural resource company’s stock worth $365,000 after buying an additional 499 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $40.02, for a total value of $343,531.68. Following the completion of the transaction, the chief accounting officer now owns 48,333 shares of the company’s stock, valued at approximately $1,934,286.66. The trade was a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is owned by corporate insiders.

Freeport-McMoRan Trading Down 2.4%

NYSE FCX opened at $40.18 on Monday. The company has a market capitalization of $57.74 billion, a PE ratio of 33.20, a P/E/G ratio of 0.80 and a beta of 1.65. The company has a fifty day moving average of $38.28 and a 200 day moving average of $38.12. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $52.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.32 and a quick ratio of 1.13.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. The company had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter in the previous year, the company earned $0.32 earnings per share. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. Research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued a $0.15 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. Freeport-McMoRan’s payout ratio is 24.79%.

Analyst Ratings Changes

Several research analysts recently weighed in on FCX shares. Wolfe Research raised shares of Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 target price for the company in a report on Wednesday, April 16th. Hsbc Global Res raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. Wall Street Zen downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Jefferies Financial Group reissued a “buy” rating and set a $50.00 price objective (up previously from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. Finally, Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.27.

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.