Stephens Inc. AR Has $2.81 Million Stock Holdings in Freeport-McMoRan Inc. $FCX

Stephens Inc. AR cut its position in Freeport-McMoRan Inc. (NYSE:FCX) by 19.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,355 shares of the natural resource company’s stock after selling 13,533 shares during the period. Stephens Inc. AR’s holdings in Freeport-McMoRan were worth $2,811,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FCX. JPL Wealth Management LLC acquired a new stake in Freeport-McMoRan in the third quarter worth $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Freeport-McMoRan in the third quarter worth $36,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Freeport-McMoRan in the fourth quarter worth $38,000. Grey Fox Wealth Advisors LLC acquired a new stake in Freeport-McMoRan in the third quarter worth $39,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in Freeport-McMoRan in the fourth quarter worth $43,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FCX has been the topic of several analyst reports. HSBC increased their target price on shares of Freeport-McMoRan from $69.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Wall Street Zen downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Morgan Stanley restated an “equal weight” rating and set a $66.00 price objective (down from $70.00) on shares of Freeport-McMoRan in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freeport-McMoRan in a report on Friday. Finally, Scotiabank dropped their price objective on shares of Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating on the stock in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.14.

Insiders Place Their Bets

In related news, CAO Ellie L. Mikes sold 11,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $62.03, for a total value of $682,330.00. Following the completion of the transaction, the chief accounting officer owned 40,773 shares of the company’s stock, valued at approximately $2,529,149.19. This trade represents a 21.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,868,202.00. Following the completion of the transaction, the chief accounting officer directly owned 76,445 shares of the company’s stock, valued at approximately $4,816,035. This trade represents a 27.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.79% of the stock is currently owned by company insiders.

Freeport-McMoRan Trading Down 4.0%

NYSE:FCX opened at $60.51 on Tuesday. The company has a market cap of $86.98 billion, a P/E ratio of 32.18, a price-to-earnings-growth ratio of 0.76 and a beta of 1.32. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $70.96. The business has a 50 day moving average price of $61.41 and a two-hundred day moving average price of $55.92. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period last year, the company earned $0.24 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. As a group, analysts expect that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were given a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, April 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 15.96%.

About Freeport-McMoRan

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.