Freeport-McMoRan Inc (NYSE:FCX) Shares Sold by US Bancorp DE

US Bancorp DE lessened its holdings in Freeport-McMoRan Inc (NYSE:FCX) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,399 shares of the natural resource company’s stock after selling 1,461 shares during the period. US Bancorp DE’s holdings in Freeport-McMoRan were worth $1,204,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Intrust Bank NA grew its position in Freeport-McMoRan by 85.4% in the fourth quarter. Intrust Bank NA now owns 29,668 shares of the natural resource company’s stock worth $305,000 after acquiring an additional 13,664 shares in the last quarter. Sentry Investment Management LLC grew its position in Freeport-McMoRan by 9.8% in the fourth quarter. Sentry Investment Management LLC now owns 94,760 shares of the natural resource company’s stock worth $977,000 after acquiring an additional 8,438 shares in the last quarter. Cypress Capital Group grew its position in Freeport-McMoRan by 15.9% in the fourth quarter. Cypress Capital Group now owns 24,482 shares of the natural resource company’s stock worth $252,000 after acquiring an additional 3,367 shares in the last quarter. Level Four Advisory Services LLC grew its position in Freeport-McMoRan by 28.7% in the fourth quarter. Level Four Advisory Services LLC now owns 17,053 shares of the natural resource company’s stock worth $176,000 after acquiring an additional 3,803 shares in the last quarter. Finally, Ruffer LLP boosted its position in Freeport-McMoRan by 173.4% during the fourth quarter. Ruffer LLP now owns 555,000 shares of the natural resource company’s stock valued at $5,719,000 after buying an additional 352,024 shares during the period. Institutional investors and hedge funds own 72.46% of the company’s stock.

Several research firms have issued reports on FCX. ValuEngine upgraded shares of Freeport-McMoRan from a “sell” rating to a “hold” rating in a research report on Monday, June 3rd. BMO Capital Markets set a $14.00 price target on shares of Freeport-McMoRan and gave the company a “hold” rating in a research report on Friday, April 26th. Zacks Investment Research upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Monday, April 8th. Raymond James restated a “market perform” rating and set a $14.00 price target on shares of Freeport-McMoRan in a research report on Friday, April 26th. Finally, UBS Group set a $13.00 price target on shares of Freeport-McMoRan and gave the company a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. Freeport-McMoRan presently has an average rating of “Hold” and an average target price of $14.95.

FCX stock traded up $0.05 during trading on Friday, reaching $11.61. The company had a trading volume of 18,125,659 shares, compared to its average volume of 20,204,582. Freeport-McMoRan Inc has a 52 week low of $9.47 and a 52 week high of $18.14. The stock has a market cap of $16.77 billion, a P/E ratio of 7.64 and a beta of 2.27. The business’s 50 day moving average price is $10.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.41 and a current ratio of 2.79.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, April 25th. The natural resource company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). Freeport-McMoRan had a return on equity of 10.31% and a net margin of 9.09%. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the company earned $0.46 earnings per share. Freeport-McMoRan’s quarterly revenue was down 22.1% on a year-over-year basis. Analysts forecast that Freeport-McMoRan Inc will post 0.39 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, July 12th. Freeport-McMoRan’s dividend payout ratio is 13.16%.

In related news, COO Harry M. Iv Conger sold 155,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $10.51, for a total transaction of $1,629,050.00. Following the completion of the sale, the chief operating officer now owns 416,382 shares of the company’s stock, valued at $4,376,174.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Richard C. Adkerson purchased 172,000 shares of Freeport-McMoRan stock in a transaction that occurred on Thursday, June 6th. The shares were purchased at an average cost of $10.14 per share, with a total value of $1,744,080.00. The disclosure for this purchase can be found here. 0.98% of the stock is currently owned by company insiders.

Freeport-McMoRan Company Profile

Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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