Shares of Freeport-McMoRan Inc (NYSE:FCX) traded down 5.4% on Wednesday . The company traded as low as $9.35 and last traded at $9.36, 27,266,299 shares traded hands during mid-day trading. An increase of 31% from the average session volume of 20,889,012 shares. The stock had previously closed at $9.89.

A number of analysts recently weighed in on the stock. UBS Group set a $13.00 price objective on shares of Freeport-McMoRan and gave the stock a “hold” rating in a report on Wednesday, June 26th. Raymond James reaffirmed a “market perform” rating and issued a $13.00 price objective on shares of Freeport-McMoRan in a report on Thursday, July 25th. Royal Bank of Canada raised shares of Freeport-McMoRan from an “underperform” rating to a “sector perform” rating and increased their price objective for the stock from $12.00 to $14.00 in a report on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price objective on shares of Freeport-McMoRan from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, Deutsche Bank raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price objective for the stock from $12.50 to $13.50 in a report on Wednesday, July 10th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Freeport-McMoRan presently has a consensus rating of “Hold” and a consensus target price of $13.88.

The company has a market capitalization of $14.35 billion, a PE ratio of 6.21 and a beta of 2.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.66. The stock’s 50 day moving average price is $10.97.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Wednesday, July 24th. The natural resource company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Freeport-McMoRan had a net margin of 4.11% and a return on equity of 4.08%. Freeport-McMoRan’s quarterly revenue was down 31.4% on a year-over-year basis. During the same quarter last year, the company earned $0.59 EPS. As a group, analysts expect that Freeport-McMoRan Inc will post 0.17 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 15th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.20 annualized dividend and a yield of 2.12%. Freeport-McMoRan’s payout ratio is 13.16%.

In related news, Vice Chairman Richard C. Adkerson bought 172,000 shares of the stock in a transaction on Thursday, June 6th. The shares were purchased at an average price of $10.14 per share, with a total value of $1,744,080.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Harry M. Iv Conger sold 155,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $10.51, for a total transaction of $1,629,050.00. Following the transaction, the chief operating officer now directly owns 416,382 shares in the company, valued at approximately $4,376,174.82. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in FCX. TCG Advisors LP bought a new position in shares of Freeport-McMoRan during the 1st quarter valued at about $33,000. Rational Advisors LLC boosted its position in shares of Freeport-McMoRan by 107.0% during the 2nd quarter. Rational Advisors LLC now owns 3,261 shares of the natural resource company’s stock valued at $38,000 after purchasing an additional 1,686 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Freeport-McMoRan during the 1st quarter valued at about $43,000. WP Advisors LLC bought a new position in shares of Freeport-McMoRan during the 1st quarter valued at about $46,000. Finally, Private Capital Group LLC boosted its position in shares of Freeport-McMoRan by 99.3% during the 1st quarter. Private Capital Group LLC now owns 3,650 shares of the natural resource company’s stock valued at $47,000 after purchasing an additional 1,819 shares in the last quarter. 72.04% of the stock is currently owned by hedge funds and other institutional investors.

About Freeport-McMoRan (NYSE:FCX)

Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.

Featured Story: Intrinsic Value

Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.