Uncommon Cents Investing LLC Acquires 1,900 Shares of Freeport-McMoRan Inc. $FCX

Uncommon Cents Investing LLC boosted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 32.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,715 shares of the natural resource company’s stock after buying an additional 1,900 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Freeport-McMoRan were worth $334,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in Freeport-McMoRan by 24.2% during the 4th 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 last quarter. Bison Wealth LLC increased its stake in shares of Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after acquiring an additional 507 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Freeport-McMoRan by 14.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 180,623 shares of the natural resource company’s stock valued at $6,878,000 after acquiring an additional 22,206 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Freeport-McMoRan by 234.4% in the 1st quarter. Versant Capital Management Inc now owns 3,484 shares of the natural resource company’s stock valued at $132,000 after acquiring an additional 2,442 shares in the last quarter. Finally, Moody National Bank Trust Division increased its stake in shares of Freeport-McMoRan by 54.1% in the 1st quarter. Moody National Bank Trust Division now owns 14,381 shares of the natural resource company’s stock valued at $544,000 after acquiring an additional 5,047 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Raymond James Financial reduced their price target on shares of Freeport-McMoRan from $55.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday. HSBC reduced their price target on shares of Freeport-McMoRan from $46.00 to $43.00 and set a “hold” rating for the company in a research report on Thursday. Clarkson Capital reissued a “neutral” rating and issued a $42.00 price target on shares of Freeport-McMoRan in a research report on Thursday. BMO Capital Markets reduced their price target on shares of Freeport-McMoRan from $54.00 to $48.00 and set an “outperform” rating for the company in a research report on Wednesday, September 24th. Finally, CICC Research cut their price objective on shares of Freeport-McMoRan from $51.60 to $42.30 and set an “outperform” rating on the stock 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 assigned a Hold rating to the stock. According to data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus target price of $46.74.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $35.76 on Monday. 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. 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 has a 50 day simple moving average of $43.10 and a two-hundred day simple moving average of $40.58. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $52.06.

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

Freeport-McMoRan Announces Dividend

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