Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 79.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,530 shares of the natural resource company’s stock after selling 13,701 shares during the period. Centaurus Financial Inc.’s holdings in Freeport-McMoRan were worth $150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FCX. Rafferty Asset Management LLC lifted its stake in shares of Freeport-McMoRan by 10.9% in the 3rd quarter. Rafferty Asset Management LLC now owns 116,605 shares of the natural resource company’s stock valued at $4,348,000 after purchasing an additional 11,501 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Freeport-McMoRan in the 3rd quarter valued at about $2,224,000. Envestnet Asset Management Inc. lifted its stake in shares of Freeport-McMoRan by 39.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,095,378 shares of the natural resource company’s stock valued at $40,847,000 after purchasing an additional 311,036 shares in the last quarter. Glenview Trust co lifted its stake in shares of Freeport-McMoRan by 38.8% in the 3rd quarter. Glenview Trust co now owns 10,068 shares of the natural resource company’s stock valued at $375,000 after purchasing an additional 2,814 shares in the last quarter. Finally, Rathbones Group PLC lifted its stake in shares of Freeport-McMoRan by 77.1% in the 3rd quarter. Rathbones Group PLC now owns 1,008,649 shares of the natural resource company’s stock valued at $37,613,000 after purchasing an additional 438,993 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Up 0.9 %

NYSE:FCX opened at $47.69 on Wednesday. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month high of $55.24. The firm has a market capitalization of $68.51 billion, a P/E ratio of 42.20, a P/E/G ratio of 2.10 and a beta of 1.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.41. The business has a 50 day simple moving average of $50.71 and a 200 day simple moving average of $44.51.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The business had revenue of $6.32 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities research analysts predict that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 15th were given a dividend of $0.15 per share. The ex-dividend date was Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. Freeport-McMoRan’s dividend payout ratio is currently 26.55%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Bernstein Bank boosted their price target on Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. reduced their price target on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. UBS Group boosted their price target on Freeport-McMoRan from $41.00 to $54.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Scotiabank lifted their price objective on Freeport-McMoRan from $53.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Freeport-McMoRan from $48.00 to $51.00 and gave the stock a “hold” rating in a report on Monday, June 10th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.47.

Insiders Place Their Bets

In other Freeport-McMoRan news, VP Douglas N. Currault II sold 55,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the completion of the transaction, the vice president now owns 164,067 shares in the company, valued at approximately $8,529,843.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Freeport-McMoRan news, VP Douglas N. Currault II sold 55,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the completion of the transaction, the vice president now owns 164,067 shares in the company, valued at approximately $8,529,843.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Stephen T. Higgins sold 80,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $52.03, for a total value of $4,162,400.00. Following the transaction, the chief accounting officer now owns 104,377 shares of the company’s stock, valued at approximately $5,430,735.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 445,667 shares of company stock worth $22,755,070. 0.79% of the stock is owned by company insiders.

Freeport-McMoRan 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.