Stokes Family Office LLC Sells 13,221 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Stokes Family Office LLC lowered its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 69.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,790 shares of the natural resource company’s stock after selling 13,221 shares during the quarter. Stokes Family Office LLC’s holdings in Freeport-McMoRan were worth $246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Carson Advisory Inc. bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $209,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Freeport-McMoRan by 5.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 60,540 shares of the natural resource company’s stock worth $2,578,000 after purchasing an additional 3,231 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in Freeport-McMoRan by 1.7% in the fourth quarter. Natixis Advisors L.P. now owns 1,870,067 shares of the natural resource company’s stock worth $79,608,000 after purchasing an additional 31,571 shares during the last quarter. Mechanics Financial Corp boosted its holdings in Freeport-McMoRan by 8.5% in the fourth quarter. Mechanics Financial Corp now owns 8,740 shares of the natural resource company’s stock worth $372,000 after purchasing an additional 685 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Freeport-McMoRan by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 55,710,695 shares of the natural resource company’s stock worth $2,371,604,000 after purchasing an additional 1,030,451 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Insider Buying and Selling at Freeport-McMoRan

In other news, VP Douglas N. Currault II sold 55,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $51.99, for a total value of $2,859,450.00. Following the sale, the vice president now directly owns 164,067 shares in the company, valued at approximately $8,529,843.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Stephen T. Higgins sold 42,767 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $50.35, for a total value of $2,153,318.45. Following the sale, the chief accounting officer now directly owns 104,377 shares in the company, valued at approximately $5,255,381.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Douglas N. Currault II sold 55,000 shares of Freeport-McMoRan stock in a transaction dated 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 transaction, the vice president now directly owns 164,067 shares of the company’s stock, valued at $8,529,843.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 310,896 shares of company stock worth $15,811,399. Insiders own 0.78% of the company’s stock.

Freeport-McMoRan Price Performance

NYSE FCX traded up $1.67 on Friday, reaching $50.45. The company had a trading volume of 14,498,117 shares, compared to its average volume of 17,456,276. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $72.37 billion, a PE ratio of 44.66, a price-to-earnings-growth ratio of 7.92 and a beta of 2.02. The firm’s 50 day moving average price is $45.86 and its 200 day moving average price is $40.84. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $52.52.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results 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. The company had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $5.70 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. Freeport-McMoRan’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. As a group, equities analysts predict that Freeport-McMoRan Inc. will post 1.66 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were issued a $0.15 dividend. The ex-dividend date was Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. Freeport-McMoRan’s dividend payout ratio is currently 26.55%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 target price on shares of Freeport-McMoRan in a report on Thursday, January 25th. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, April 9th. Argus lifted their price target on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. dropped their price target on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Finally, StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average price target of $50.07.

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.