Freeport-McMoRan Inc. $FCX Stake Raised by Whittier Trust Co.

Whittier Trust Co. boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 7.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,245 shares of the natural resource company’s stock after buying an additional 445 shares during the period. Whittier Trust Co.’s holdings in Freeport-McMoRan were worth $271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in FCX. Brighton Jones LLC lifted its position in shares of Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after acquiring an additional 2,882 shares in the last quarter. Bison Wealth LLC lifted its holdings in shares of Freeport-McMoRan by 5.6% in the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after purchasing an additional 507 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Freeport-McMoRan by 5.6% in the first quarter. GAMMA Investing LLC now owns 22,805 shares of the natural resource company’s stock worth $863,000 after buying an additional 1,219 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Freeport-McMoRan by 3.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 189,765 shares of the natural resource company’s stock worth $7,185,000 after buying an additional 5,557 shares during the period. Finally, Continuum Advisory LLC grew its holdings in shares of Freeport-McMoRan by 92.3% during the first quarter. Continuum Advisory LLC now owns 1,444 shares of the natural resource company’s stock valued at $55,000 after buying an additional 693 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Hsbc Global Res raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Stifel Nicolaus began coverage on shares of Freeport-McMoRan in a research report on Wednesday, July 9th. They issued a “buy” rating and a $56.00 price target for the company. Wall Street Zen cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Clarkson Capital reaffirmed a “neutral” rating and set a $42.00 price objective on shares of Freeport-McMoRan in a research report on Thursday, September 25th. Finally, HSBC raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their price objective for the company from $43.00 to $50.00 in a research report on Friday, October 17th. Four research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.92.

Freeport-McMoRan Trading Up 0.9%

Shares of NYSE FCX opened at $41.13 on Friday. The stock has a market cap of $59.06 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 0.98 and a beta of 1.58. The business has a 50 day simple moving average of $42.57 and a 200 day simple moving average of $40.88. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $49.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.21 and a current ratio of 2.47.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, October 23rd. The natural resource company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. The business had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $6.74 billion. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. On average, research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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 paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. Freeport-McMoRan’s payout ratio is presently 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.