Freeport-McMoRan Inc. $FCX Shares Sold by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV lowered its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 26.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,640 shares of the natural resource company’s stock after selling 16,798 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Freeport-McMoRan were worth $2,800,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FCX. Strategic Investment Solutions Inc. IL acquired a new stake in Freeport-McMoRan in the fourth quarter worth about $25,000. Kemnay Advisory Services Inc. acquired a new position in Freeport-McMoRan during the 4th quarter valued at about $29,000. SHP Wealth Management bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth about $30,000. MV Capital Management Inc. bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth about $34,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

FCX has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Wall Street Zen raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. The Goldman Sachs Group upped their target price on Freeport-McMoRan from $68.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Raymond James Financial decreased their price target on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, April 24th. Finally, CICC Research lowered their price target on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $67.81.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $68.80 on Monday. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $72.28. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $64.98 and a 200-day moving average of $60.13. The firm has a market cap of $98.90 billion, a price-to-earnings ratio of 36.60, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts forecast that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were given a $0.075 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 annualized dividend and a yield of 0.4%. Freeport-McMoRan’s payout ratio is 15.96%.

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.