Freeport-McMoRan Inc. $FCX Holdings Trimmed by Van Hulzen Asset Management LLC

Van Hulzen Asset Management LLC reduced its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 46.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,590 shares of the natural resource company’s stock after selling 44,932 shares during the period. Van Hulzen Asset Management LLC’s holdings in Freeport-McMoRan were worth $3,244,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after acquiring an additional 2,882 shares during the last quarter. Bison Wealth LLC grew its stake in shares of Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after purchasing an additional 507 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Freeport-McMoRan in the 2nd quarter worth approximately $560,000. Brown Advisory Inc. lifted its stake in Freeport-McMoRan by 27.0% during the second quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock valued at $539,000 after purchasing an additional 2,648 shares during the last quarter. Finally, Jump Financial LLC grew its position in Freeport-McMoRan by 42.7% in the second quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock worth $2,172,000 after buying an additional 14,992 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FCX has been the subject of a number of recent research reports. BMO Capital Markets reiterated an “outperform” rating and set a $78.00 price objective on shares of Freeport-McMoRan in a research report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their target price on Freeport-McMoRan from $73.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. The Goldman Sachs Group reduced their target price on Freeport-McMoRan from $75.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. HSBC increased their price target on Freeport-McMoRan from $72.00 to $75.00 in a research report on Friday, June 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus price target of $70.27.

Insider Activity

In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 14,277 shares of Freeport-McMoRan stock in a transaction dated 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 owned 54,618 shares of the company’s stock, valued at $3,795,951. The trade was a 20.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Ellie L. Mikes sold 4,773 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $334,110.00. Following the completion of the transaction, the chief accounting officer owned 36,000 shares in the company, valued at $2,520,000. This represents a 11.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 26,600 shares of company stock valued at $1,802,012. Company insiders own 0.73% of the company’s stock.

Freeport-McMoRan Trading Up 1.5%

NYSE FCX opened at $77.79 on Tuesday. The firm’s 50 day moving average price is $64.71 and its two-hundred day moving average price is $63.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 2.07. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $78.88. The stock has a market cap of $111.71 billion, a price-to-earnings ratio of 38.32, a PEG ratio of 0.76 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. The company had revenue of $7.03 billion during the quarter, compared to analyst estimates of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.The company’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. Equities analysts anticipate that Freeport-McMoRan Inc. will post 2.79 EPS for the current year.

Freeport-McMoRan Dividend Announcement

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

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.