Catalyst Capital Advisors LLC Has $1.42 Million Stock Holdings in Freeport-McMoRan Inc. $FCX

Catalyst Capital Advisors LLC lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 17.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,813 shares of the natural resource company’s stock after purchasing an additional 4,813 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Freeport-McMoRan were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FCX. Asset Management One Co. Ltd. boosted its stake in Freeport-McMoRan by 1.1% during the second quarter. Asset Management One Co. Ltd. now owns 643,302 shares of the natural resource company’s stock worth $27,887,000 after buying an additional 6,707 shares in the last quarter. FSM Wealth Advisors LLC acquired a new stake in shares of Freeport-McMoRan during the 2nd quarter valued at about $245,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Freeport-McMoRan during the 2nd quarter valued at about $247,000. Bleakley Financial Group LLC boosted its position in shares of Freeport-McMoRan by 6.5% during the 2nd quarter. Bleakley Financial Group LLC now owns 86,076 shares of the natural resource company’s stock valued at $3,731,000 after acquiring an additional 5,236 shares in the last quarter. Finally, Strategic Blueprint LLC boosted its position in shares of Freeport-McMoRan by 6.1% during the 2nd quarter. Strategic Blueprint LLC now owns 93,204 shares of the natural resource company’s stock valued at $4,040,000 after acquiring an additional 5,352 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FCX. Sanford C. Bernstein decreased their target price on shares of Freeport-McMoRan from $48.50 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Johnson Rice decreased their price objective on Freeport-McMoRan from $55.00 to $48.00 in a report on Monday, September 29th. Wall Street Zen downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Hsbc Global Res raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Finally, Wells Fargo & Company raised Freeport-McMoRan to a “strong-buy” rating in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and an average price target of $46.92.

Freeport-McMoRan Stock Up 0.9%

Shares of FCX opened at $41.13 on Friday. The company has a market capitalization of $59.06 billion, a P/E ratio of 31.16, a PEG ratio of 0.98 and a beta of 1.58. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $49.21. The business’s 50 day simple moving average is $42.57 and its 200-day simple moving average is $40.88.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, October 23rd. The natural resource company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The company had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.74 billion. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. As a group, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be given a dividend of $0.15 per share. 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 22.73%.

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.