Advisory Alpha LLC Sells 727 Shares of Freeport-McMoRan Inc. $FCX

Advisory Alpha LLC trimmed its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 7.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,470 shares of the natural resource company’s stock after selling 727 shares during the period. Advisory Alpha LLC’s holdings in Freeport-McMoRan were worth $367,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FCX. Nuveen LLC bought a new stake in Freeport-McMoRan in the first quarter valued at $366,959,000. Amundi grew its position in Freeport-McMoRan by 28.1% in the first quarter. Amundi now owns 27,635,497 shares of the natural resource company’s stock valued at $1,046,280,000 after acquiring an additional 6,054,537 shares during the period. Crake Asset Management LLP grew its position in Freeport-McMoRan by 2,140.8% in the first quarter. Crake Asset Management LLP now owns 5,929,623 shares of the natural resource company’s stock valued at $224,496,000 after acquiring an additional 5,665,000 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Freeport-McMoRan by 17.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 37,547,489 shares of the natural resource company’s stock worth $1,421,549,000 after purchasing an additional 5,661,958 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Freeport-McMoRan by 13.7% in the first quarter. Bank of New York Mellon Corp now owns 21,942,063 shares of the natural resource company’s stock worth $830,726,000 after purchasing an additional 2,642,810 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $42.14 on Thursday. The business’s 50-day simple moving average is $42.55 and its 200 day simple moving average is $41.28. The stock has a market cap of $60.50 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 0.93 and a beta of 1.58. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $49.21. The company has a quick ratio of 1.19, a current ratio of 2.45 and a debt-to-equity ratio of 0.29.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.09. The business had revenue of $6.97 billion for the quarter, compared to analysts’ expectations of $6.74 billion. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $0.60 annualized dividend and a yield of 1.4%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 21.13%.

Analysts Set New Price Targets

FCX has been the topic of a number of recent analyst reports. Wall Street Zen raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. BNP Paribas Exane reduced their price objective on Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. BMO Capital Markets reduced their price objective on Freeport-McMoRan from $54.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 24th. Hsbc Global Res raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Finally, Morgan Stanley reduced their price objective on Freeport-McMoRan from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 8th. Four 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. According to MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average target price of $47.01.

Freeport-McMoRan 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.