Centaurus Financial Inc. Has $150,000 Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Centaurus Financial Inc. decreased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 79.5% in the 4th quarter, HoldingsChannel reports. The fund owned 3,530 shares of the natural resource company’s stock after selling 13,701 shares during the period. Centaurus Financial Inc.’s holdings in Freeport-McMoRan were worth $150,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC raised its holdings in Freeport-McMoRan by 38.6% in the 4th quarter. Belpointe Asset Management LLC now owns 16,891 shares of the natural resource company’s stock valued at $719,000 after acquiring an additional 4,703 shares in the last quarter. Oaktree Capital Management LP lifted its position in shares of Freeport-McMoRan by 7.8% during the 4th quarter. Oaktree Capital Management LP now owns 2,917,913 shares of the natural resource company’s stock worth $124,216,000 after buying an additional 211,608 shares during the period. Signature Estate & Investment Advisors LLC lifted its position in shares of Freeport-McMoRan by 6.4% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock worth $14,726,000 after buying an additional 20,894 shares during the period. Cadinha & Co. LLC lifted its position in shares of Freeport-McMoRan by 59.0% during the 4th quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company’s stock worth $27,572,000 after buying an additional 240,340 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Freeport-McMoRan by 4,857.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,324,452 shares of the natural resource company’s stock worth $56,382,000 after buying an additional 1,297,737 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Argus raised their target price on Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Bernstein Bank raised their target price on Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. UBS Group lifted their price objective on Freeport-McMoRan from $41.00 to $54.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. cut their price objective on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Finally, StockNews.com upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.47.

Insider Buying and Selling

In related news, CAO Stephen T. Higgins sold 42,767 shares of Freeport-McMoRan stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $50.35, for a total transaction of $2,153,318.45. Following the completion of the sale, the chief accounting officer now directly owns 104,377 shares of the company’s stock, valued at $5,255,381.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 42,767 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $50.35, for a total value of $2,153,318.45. Following the completion of the transaction, the chief accounting officer now directly owns 104,377 shares of the company’s stock, valued at $5,255,381.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Stephen T. Higgins sold 80,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $52.03, for a total value of $4,162,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 104,377 shares of the company’s stock, valued at $5,430,735.31. The disclosure for this sale can be found here. Insiders sold a total of 445,667 shares of company stock valued at $22,755,070 over the last three months. Company insiders own 0.79% of the company’s stock.

Freeport-McMoRan Trading Up 0.9 %

FCX stock opened at $47.69 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $55.24. The business has a fifty day moving average of $50.71 and a 200-day moving average of $44.51. The company has a market cap of $68.51 billion, a P/E ratio of 42.20, a PEG ratio of 2.10 and a beta of 1.96.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The business had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 15th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.26%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

Freeport-McMoRan Company 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.