Beacon Capital Management LLC Has $38,000 Stake in Freeport-McMoRan Inc. $FCX

Beacon Capital Management LLC lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 59.6% during the second quarter, Holdings Channel.com reports. The firm owned 876 shares of the natural resource company’s stock after purchasing an additional 327 shares during the period. Beacon Capital Management LLC’s holdings in Freeport-McMoRan were worth $38,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FCX. Brighton Jones LLC raised its position in shares of Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after purchasing an additional 2,882 shares during the period. Bison Wealth LLC grew its holdings in Freeport-McMoRan by 5.6% during the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after buying an additional 507 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Freeport-McMoRan by 14.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 180,623 shares of the natural resource company’s stock worth $6,878,000 after buying an additional 22,206 shares in the last quarter. Versant Capital Management Inc grew its holdings in Freeport-McMoRan by 234.4% during the first quarter. Versant Capital Management Inc now owns 3,484 shares of the natural resource company’s stock worth $132,000 after buying an additional 2,442 shares in the last quarter. Finally, Moody National Bank Trust Division grew its holdings in Freeport-McMoRan by 54.1% during the first quarter. Moody National Bank Trust Division now owns 14,381 shares of the natural resource company’s stock worth $544,000 after buying an additional 5,047 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FCX has been the subject of several recent research reports. Stifel Canada upgraded Freeport-McMoRan to a “strong-buy” rating in a report on Tuesday, July 8th. Morgan Stanley downgraded Freeport-McMoRan from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $45.00 to $54.00 in a report on Tuesday, July 15th. Sanford C. Bernstein upgraded Freeport-McMoRan from a “market perform” rating to an “outperform” rating and set a $48.50 price target for the company in a report on Thursday. BNP Paribas Exane decreased their price target on Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Wall Street Zen downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $46.74.

Freeport-McMoRan Stock Up 1.2%

Shares of NYSE FCX opened at $35.76 on Monday. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $52.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21. The business’s fifty day moving average price is $43.10 and its 200-day moving average price is $40.58. The stock has a market capitalization of $51.34 billion, a PE ratio of 27.09, a P/E/G ratio of 0.68 and a beta of 1.59.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The firm had revenue of $7.58 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.7%. Freeport-McMoRan’s dividend payout ratio is 22.73%.

About Freeport-McMoRan

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.