Freeport-McMoRan Inc. $FCX Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. decreased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 61.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,080 shares of the natural resource company’s stock after selling 34,467 shares during the period. J.W. Cole Advisors Inc.’s holdings in Freeport-McMoRan were worth $866,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Freeport-McMoRan in the 3rd quarter valued at approximately $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in Freeport-McMoRan in the second quarter worth $28,000. Salomon & Ludwin LLC increased its stake in Freeport-McMoRan by 1,962.9% during the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 687 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Freeport-McMoRan during the third quarter worth $36,000. Finally, Proffitt & Goodson Inc. lifted its position in shares of Freeport-McMoRan by 39.8% in the 3rd quarter. Proffitt & Goodson Inc. now owns 977 shares of the natural resource company’s stock worth $38,000 after buying an additional 278 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Insider Activity at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 9,572 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $47.66, for a total transaction of $456,201.52. Following the completion of the sale, the chief accounting officer directly owned 38,761 shares of the company’s stock, valued at $1,847,349.26. This represents a 19.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen T. Higgins sold 28,423 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $47.99, for a total transaction of $1,364,019.77. Following the sale, the chief accounting officer owned 105,294 shares of the company’s stock, valued at $5,053,059.06. The trade was a 21.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Clarkson Capital raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Wednesday, November 19th. Wall Street Zen upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. BNP Paribas Exane dropped their target price on Freeport-McMoRan from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, December 5th. Finally, CICC Research boosted their price target on shares of Freeport-McMoRan from $50.40 to $64.40 and gave the company an “outperform” rating in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.40.

Freeport-McMoRan Stock Up 4.9%

Shares of FCX stock opened at $63.65 on Tuesday. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $69.44. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29. The business’s fifty day moving average is $54.42 and its 200-day moving average is $46.32. The stock has a market cap of $91.40 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 0.70 and a beta of 1.47.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.19. The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.42 billion. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th were given a dividend of $0.075 per share. The ex-dividend date was Thursday, January 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is 19.87%.

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.