Advisory Services Network LLC is reducing its stake in Freeport-McMoRan Inc. (NYSE:FCX).

In the first quarter, Advisory Services Network LLC reduced its assets in Freeport-McMoRan Inc. by 13.2%, according to the latest 13F report submitted to the Securities and Exchange Commission. After selling 9,820 shares, this institutional investor owned 64,488 shares of the natural resources firm. At the time of the last SEC filing, Advisory Services Network LLC's stake in Freeport-McMoRan was valued at3,032,000 dollars.

A number of major investors have also recently changed their shareholdings in FCX. For example:

• Belpointe Asset Management LLCI increased my stake in Freeport-McMoRan shares by 38.6% in the fourth quarter. Currently, Belpointe owns 16,891 shares worth719,000 dollarsafter acquiring an additional 4,703 shares.
• Fisher Asset Management LLCincreased his stake in Freeport-McMoRan by 1.8% in the fourth quarter and now owns 55,656,836 shares, valued at2,369,312,000 dollars, after the purchase of an additional 976,592 shares.
• Oaktree Capital Management LPI increased my investments by 7.8% in the fourth quarter and now own 2,917,913 shares worth124,216,000 dollars, after the addition of 211,608 shares.
• Norden Group LLCI increased my stake by 1,823.1% in the first quarter and now own 249,885 shares worth11,750,000 dollarsafter purchasing 236,891 shares.
• Signature Estate & Investment Advisors LLCincreased his assets by 6.4% in the fourth quarter and now owns 345,917 shares worth14,726,000 dollarsafter acquiring 20,894 shares.

In total80.77%The company's shares are owned by institutional investors and hedge funds.

Regarding the company's stock transactions, CAO Steven T. Higgins sold 43,900 shares of Freeport-McMoRan in a deal that took place on Wednesday, May 1. The shares were sold at an average price.51.08 dollarsthat amounted to a total of2,242,412 dollarsAfter this sale, the chief accountant now directly owns 104,377 shares of the company, which are valued at5,331,577 dollars.

In other news, Freeport-McMoRan Vice President Douglas N. Cuerault II sold 55,000 shares in a transaction that took place on Monday, April 29.

Forecasts and analytics

Analysts on Wall Street are predicting growth for FCX, as this stock has been the subject of several analytical reports recently.

• JPMorgan Chase & Co. has lowered the target price for Freeport-McMoRan shares from52.00to51.00 dollars...raising its rating decision to "neutral" in a research report published on April 24.
• Raymond James has raised its target price for Freeport-McMoRan to49,50to54.00 dollarsand assigned the company a rating of "above market" in the report on April 24.
• HSBC raised its target price for Freeport-McMoRan to39.00to45.00 dollarsand assigned a "hold" rating to the stocks in a report published on April 23.
• StockNews.com upgraded Freeport-McMoRan from "hold" to "buy" in a report on April 25.
• Deutsche Bank Aktiengesellschaft has raised its target price for Freeport-McMoRan shares to48.00to51.00 dollarsand assigned a "hold" rating to the stocks in his report published on June 10.

Out of five research analysts evaluating the company's stock, three assigned a "hold" rating, one gave a "strong buy," and the others recommended "buy." According to MarketBeat data, the company currently has an average consensus rating of "Moderate Buy" and an average target price of52.93 dollars.

Price dynamics

As for the price dynamics of Freeport-McMoRan, on Friday the shares opened at51.28 dollarsThe company has a 50-day moving average at the level of50.77 dollarsand the 200-day moving average at the level45.73 dollarsFreeport-McMoRan Inc. has a 52-week low at32.83 dollarsand a maximum at the level55.24 dollarsThe company's quick liquidity ratio is1.41, the current rate is –2.35, and the ratio of debt obligations to equity is –0.31The company's market capitalization is73.66 billion dollarsThe P/E ratio is equal to45.38, the PEG ratio –2.17, and the beta coefficient –1.92.

Quarterly report and dividends

Freeport-McMoRan recently announced the results of its quarterly report, which was presented on April 23. The company reported earnings per share of0.32 dollars, exceeding the consensus forecast in0.27 dollarson0.05 dollarsThe company's revenue for the quarter amounted to6.32 billion dollarsthat also exceeded the consensus forecast in5.70 billion dollarsFreeport-McMoRan demonstrated return on equity.7.17%and the net margin6.97%The company's revenue has increased by17.3%compared to the same quarter of last year.

The company also recently announced the payment of quarterly dividends, which will be paid on Thursday, August 1. Investors registered onJuly 15will receive a dividend of0.15 dollarsfor the share. This amounts to0.60 dollarson an annual basis and yield1.17%The cut-off date for dividends.July 15The share of payments from Freeport-McMoRan is26.55%.

Basic information about the company

Freeport-McMoRan Inc. is engaged in mining minerals in North and South America, as well as in Indonesia. The company's main focus is on the exploration of copper, gold, molybdenum, silver, and other metals. The company's assets include minerals in the Grasberg area of Indonesia, as well as:

• Deposits in Arizona: Morenci, Bagdad, Safford, Sierrita, and Miami;
• deposits in New Mexico: Chino and Tyrone;
• Deposits in Colorado: Henderson and Climax;
• Cerro Verde mine in Peru and El Abra in Chile.