CSM Advisors LLC Sells 54,980 Shares of Freeport-McMoRan Inc. $FCX

CSM Advisors LLC trimmed its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 52.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,695 shares of the natural resource company’s stock after selling 54,980 shares during the quarter. CSM Advisors LLC’s holdings in Freeport-McMoRan were worth $1,987,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of FCX. Wellington Management Group LLP boosted its position in Freeport-McMoRan by 190.9% during the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after acquiring an additional 23,950,557 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Freeport-McMoRan by 89.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 17,569,169 shares of the natural resource company’s stock worth $761,623,000 after acquiring an additional 8,292,873 shares in the last quarter. Crake Asset Management LLP raised its position in shares of Freeport-McMoRan by 60.6% in the 2nd quarter. Crake Asset Management LLP now owns 9,522,673 shares of the natural resource company’s stock worth $412,808,000 after acquiring an additional 3,593,050 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Freeport-McMoRan by 289.0% during the 3rd quarter. Voya Investment Management LLC now owns 3,844,504 shares of the natural resource company’s stock worth $150,781,000 after purchasing an additional 2,856,302 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Freeport-McMoRan by 205.0% during the 2nd quarter. AQR Capital Management LLC now owns 4,186,621 shares of the natural resource company’s stock worth $181,490,000 after purchasing an additional 2,813,845 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FCX shares. Wells Fargo & Company lifted their target price on Freeport-McMoRan from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Morgan Stanley set a $70.00 price target on shares of Freeport-McMoRan in a research report on Tuesday, January 27th. Argus upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Friday, February 13th. Wall Street Zen downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Stifel Nicolaus boosted their price objective on shares of Freeport-McMoRan from $52.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $62.59.

Freeport-McMoRan Trading Up 2.7%

Freeport-McMoRan stock opened at $57.89 on Tuesday. The stock has a 50-day moving average of $61.73 and a two-hundred day moving average of $50.08. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $69.75. The stock has a market cap of $83.20 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 0.66 and a beta of 1.41.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The business had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

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

Insider Activity at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 29,654 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $63.00, for a total value of $1,868,202.00. Following the completion of the transaction, the chief accounting officer owned 76,445 shares of the company’s stock, valued at approximately $4,816,035. This trade represents a 27.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Douglas N. Currault II sold 75,000 shares of Freeport-McMoRan stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total transaction of $4,839,000.00. Following the sale, the executive vice president owned 219,181 shares of the company’s stock, valued at $14,141,558.12. The trade was a 25.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 565,145 shares of company stock worth $35,839,918 in the last 90 days. 0.79% of the stock is owned by insiders.

Freeport-McMoRan Company 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.