Regal Investment Advisors LLC Trims Position in Freeport-McMoRan Inc. (NYSE:FCX)

Regal Investment Advisors LLC cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCXGet Rating) by 9.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,627 shares of the natural resource company’s stock after selling 1,800 shares during the quarter. Regal Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $827,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Capital Research Global Investors grew its stake in shares of Freeport-McMoRan by 19.5% during the 4th quarter. Capital Research Global Investors now owns 73,817,050 shares of the natural resource company’s stock worth $3,080,385,000 after purchasing an additional 12,060,475 shares during the period. TD Asset Management Inc. grew its stake in shares of Freeport-McMoRan by 380.5% during the 4th quarter. TD Asset Management Inc. now owns 5,451,284 shares of the natural resource company’s stock worth $227,482,000 after purchasing an additional 4,316,893 shares during the period. Fisher Asset Management LLC grew its stake in shares of Freeport-McMoRan by 3.9% during the 1st quarter. Fisher Asset Management LLC now owns 50,750,501 shares of the natural resource company’s stock worth $2,524,330,000 after purchasing an additional 1,897,056 shares during the period. Tree Line Advisors Hong Kong Ltd. acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $75,114,000. Finally, Waratah Capital Advisors Ltd. grew its stake in shares of Freeport-McMoRan by 102.9% during the 4th quarter. Waratah Capital Advisors Ltd. now owns 37,679 shares of the natural resource company’s stock worth $1,572,000 after purchasing an additional 1,329,688 shares during the period. 77.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FCX has been the topic of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of Freeport-McMoRan from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Friday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Freeport-McMoRan from $37.00 to $35.00 in a research note on Friday, July 22nd. Wolfe Research cut shares of Freeport-McMoRan from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 7th. Barclays dropped their price target on shares of Freeport-McMoRan from $29.00 to $24.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 19th. Finally, Citigroup lifted their price target on shares of Freeport-McMoRan from $28.00 to $29.00 in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $42.00.

Freeport-McMoRan Stock Up 5.3 %

NYSE FCX opened at $30.27 on Friday. Freeport-McMoRan Inc. has a 52 week low of $24.80 and a 52 week high of $51.99. The company has a quick ratio of 1.94, a current ratio of 2.73 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $32.14 and its 200-day simple moving average is $39.63. The firm has a market cap of $43.87 billion, a PE ratio of 9.20, a P/E/G ratio of 0.30 and a beta of 2.01.

Freeport-McMoRan (NYSE:FCXGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The natural resource company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.31). Freeport-McMoRan had a return on equity of 22.04% and a net margin of 20.08%. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The firm’s revenue was down 5.8% on a year-over-year basis. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 3.24 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.98%. Freeport-McMoRan’s dividend payout ratio is presently 9.12%.

Insider Activity at Freeport-McMoRan

In related news, Director Sara Grootwassink Lewis acquired 3,000 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, August 3rd. The shares were purchased at an average cost of $28.79 per share, for a total transaction of $86,370.00. Following the acquisition, the director now owns 13,800 shares in the company, valued at $397,302. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Sara Grootwassink Lewis acquired 3,000 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, August 3rd. The shares were purchased at an average cost of $28.79 per share, for a total transaction of $86,370.00. Following the acquisition, the director now owns 13,800 shares in the company, valued at $397,302. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dustan E. Mccoy sold 8,200 shares of the business’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $39.24, for a total transaction of $321,768.00. Following the completion of the sale, the director now owns 134,400 shares in the company, valued at $5,273,856. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

About Freeport-McMoRan

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Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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