G&S Capital LLC Cuts Holdings in Freeport-McMoRan Inc. $FCX

G&S Capital LLC lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 86.4% in the second quarter, Holdings Channel reports. The institutional investor owned 3,412 shares of the natural resource company’s stock after selling 21,629 shares during the period. G&S Capital LLC’s holdings in Freeport-McMoRan were worth $215,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Strategic Investment Solutions Inc. IL bought a new position in shares of Freeport-McMoRan in the 4th quarter worth $25,000. Steph & Co. boosted its position in Freeport-McMoRan by 43.7% during the first quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 150 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Freeport-McMoRan during the first quarter valued at about $29,000. Kemnay Advisory Services Inc. purchased a new position in Freeport-McMoRan in the fourth quarter valued at about $29,000. Finally, SHP Wealth Management purchased a new position in Freeport-McMoRan in the fourth quarter valued at about $30,000. Institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on FCX shares. Barclays increased their price target on shares of Freeport-McMoRan from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Morgan Stanley lifted their price objective on shares of Freeport-McMoRan from $66.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. BNP Paribas Exane increased their target price on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Weiss Ratings raised shares of Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 31st. Finally, Wells Fargo & Company raised their target price on shares of Freeport-McMoRan from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.27.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $69.23 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 2.07. The company has a market cap of $99.52 billion, a PE ratio of 34.10, a P/E/G ratio of 0.69 and a beta of 1.37. The business has a 50-day simple moving average of $64.01 and a two-hundred day simple moving average of $63.08. Freeport-McMoRan Inc. has a fifty-two week low of $35.15 and a fifty-two week high of $72.28.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.12. The firm had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.62 billion. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 2.76 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th were paid a dividend of $0.075 per share. The ex-dividend date was Wednesday, July 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan’s dividend payout ratio is presently 14.78%.

Insiders Place Their Bets

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 4,773 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $334,110.00. Following the sale, the chief accounting officer owned 36,000 shares in the company, valued at approximately $2,520,000. The trade was a 11.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Stephen T. Higgins sold 14,277 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total transaction of $992,251.50. Following the transaction, the chief accounting officer directly owned 54,618 shares of the company’s stock, valued at approximately $3,795,951. This trade represents a 20.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 26,600 shares of company stock valued at $1,802,012. Corporate insiders own 0.73% of the company’s stock.

Freeport-McMoRan 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.