Mutual Advisors LLC Acquires 334 Shares of Freeport-McMoRan Inc. $FCX

Mutual Advisors LLC boosted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,638 shares of the natural resource company’s stock after buying an additional 334 shares during the quarter. Mutual Advisors LLC’s holdings in Freeport-McMoRan were worth $612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cypress Wealth Services LLC grew its stake in shares of Freeport-McMoRan by 4.6% in the second quarter. Cypress Wealth Services LLC now owns 6,230 shares of the natural resource company’s stock worth $270,000 after acquiring an additional 273 shares during the period. Sagespring Wealth Partners LLC lifted its position in Freeport-McMoRan by 46.9% during the second quarter. Sagespring Wealth Partners LLC now owns 17,982 shares of the natural resource company’s stock valued at $780,000 after purchasing an additional 5,742 shares during the period. TD Asset Management Inc boosted its holdings in Freeport-McMoRan by 6.3% in the second quarter. TD Asset Management Inc now owns 787,096 shares of the natural resource company’s stock worth $34,121,000 after purchasing an additional 46,629 shares during the last quarter. IFC Advisors LLC grew its position in Freeport-McMoRan by 6.0% in the 2nd quarter. IFC Advisors LLC now owns 95,898 shares of the natural resource company’s stock worth $4,157,000 after purchasing an additional 5,430 shares during the period. Finally, Morningstar Investment Management LLC bought a new stake in Freeport-McMoRan in the 2nd quarter worth approximately $225,000. Institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

FCX has been the topic of several research analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $46.00 price target on shares of Freeport-McMoRan in a report on Wednesday, September 24th. Dbs Bank reduced their price objective on Freeport-McMoRan from $51.00 to $48.00 in a research report on Thursday, October 2nd. BMO Capital Markets dropped their target price on Freeport-McMoRan from $54.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 24th. BNP Paribas Exane cut their price target on Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. Finally, Raymond James Financial lowered their price objective on shares of Freeport-McMoRan from $55.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.92.

Freeport-McMoRan Trading Down 1.2%

Shares of NYSE:FCX opened at $41.18 on Monday. The stock has a 50 day moving average of $42.64 and a 200 day moving average of $40.71. The company has a market cap of $59.12 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $50.12. The company has a current ratio of 2.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30.

Freeport-McMoRan (NYSE:FCX) last issued 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 business had revenue of $7.58 billion for the quarter, compared to the consensus estimate of $6.85 billion. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced 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 of this dividend is Wednesday, October 15th. This represents a $0.60 annualized dividend and a yield of 1.5%. Freeport-McMoRan’s dividend payout ratio is currently 22.73%.

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.