Kraematon Investment Advisors Inc. Has $324,000 Position in Freeport-McMoRan Inc. $FCX

Kraematon Investment Advisors Inc. cut its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 11.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,470 shares of the natural resource company’s stock after selling 985 shares during the quarter. Kraematon Investment Advisors Inc.’s holdings in Freeport-McMoRan were worth $324,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FCX. Kestra Private Wealth Services LLC increased its position in Freeport-McMoRan by 0.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 62,015 shares of the natural resource company’s stock valued at $2,348,000 after buying an additional 275 shares in the last quarter. Princeton Capital Management LLC grew its stake in Freeport-McMoRan by 1.1% in the first quarter. Princeton Capital Management LLC now owns 25,980 shares of the natural resource company’s stock valued at $984,000 after acquiring an additional 275 shares during the period. Capital Investment Advisory Services LLC increased its holdings in shares of Freeport-McMoRan by 3.2% during the first quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company’s stock valued at $345,000 after acquiring an additional 278 shares in the last quarter. Capital Analysts LLC raised its position in shares of Freeport-McMoRan by 12.5% during the first quarter. Capital Analysts LLC now owns 2,550 shares of the natural resource company’s stock worth $96,000 after purchasing an additional 284 shares during the period. Finally, Sargent Investment Group LLC lifted its holdings in shares of Freeport-McMoRan by 2.8% in the 1st quarter. Sargent Investment Group LLC now owns 10,421 shares of the natural resource company’s stock worth $395,000 after purchasing an additional 285 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Trading Up 2.0%

Shares of Freeport-McMoRan stock opened at $39.66 on Friday. The firm has a market cap of $56.94 billion, a PE ratio of 30.05, a P/E/G ratio of 0.72 and a beta of 1.58. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $51.19. 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 stock has a fifty day moving average price of $42.47 and a 200-day moving average price of $40.54.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly 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 company had revenue of $7.58 billion during the quarter, compared to analyst estimates of $6.85 billion. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $0.60 annualized dividend and a yield of 1.5%. Freeport-McMoRan’s dividend payout ratio is presently 22.73%.

Analysts Set New Price Targets

A number of analysts have commented on FCX shares. JPMorgan Chase & Co. decreased their price target on shares of Freeport-McMoRan from $56.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Morgan Stanley lowered shares of Freeport-McMoRan from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $45.00 to $54.00 in a report on Tuesday, July 15th. Clarkson Capital reiterated a “neutral” rating and set a $42.00 price target on shares of Freeport-McMoRan in a research note on Thursday, September 25th. HSBC lowered their price objective on Freeport-McMoRan from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Thursday, September 25th. Finally, Citigroup lifted their target price on Freeport-McMoRan from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.74.

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.