Checchi Capital Advisers LLC Invests $139,000 in Freeport-McMoRan Inc (NYSE:FCX)

Checchi Capital Advisers LLC purchased a new position in shares of Freeport-McMoRan Inc (NYSE:FCX) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 14,490 shares of the natural resource company’s stock, valued at approximately $139,000.

Other large investors have also modified their holdings of the company. AdvisorNet Financial Inc grew its position in shares of Freeport-McMoRan by 908.6% during the 3rd quarter. AdvisorNet Financial Inc now owns 3,036 shares of the natural resource company’s stock worth $29,000 after buying an additional 2,735 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $30,000. Rational Advisors LLC grew its position in shares of Freeport-McMoRan by 107.0% during the 2nd quarter. Rational Advisors LLC now owns 3,261 shares of the natural resource company’s stock worth $38,000 after buying an additional 1,686 shares during the period. Citizens Financial Group Inc RI grew its position in shares of Freeport-McMoRan by 6,082.1% during the 3rd quarter. Citizens Financial Group Inc RI now owns 3,462 shares of the natural resource company’s stock worth $33,000 after buying an additional 3,406 shares during the period. Finally, Doyle Wealth Management acquired a new stake in shares of Freeport-McMoRan during the 2nd quarter worth approximately $42,000. Institutional investors own 72.71% of the company’s stock.

Shares of NYSE FCX opened at $11.16 on Friday. The stock has a market cap of $15.73 billion, a P/E ratio of 98.54 and a beta of 2.44. The firm has a 50 day moving average price of $9.92 and a 200 day moving average price of $10.38. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.16 and a current ratio of 2.47. Freeport-McMoRan Inc has a 52-week low of $8.43 and a 52-week high of $14.68.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Wednesday, October 23rd. The natural resource company reported ($0.01) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.01). Freeport-McMoRan had a negative net margin of 0.22% and a positive return on equity of 0.91%. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The business’s revenue was down 32.6% on a year-over-year basis. Analysts predict that Freeport-McMoRan Inc will post 0.02 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Friday, October 11th. Freeport-McMoRan’s payout ratio is currently 13.16%.

A number of research analysts recently issued reports on FCX shares. Royal Bank of Canada upgraded shares of Freeport-McMoRan from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $12.00 to $14.00 in a report on Wednesday, July 24th. ValuEngine upgraded shares of Freeport-McMoRan from a “buy” rating to a “strong-buy” rating in a report on Friday, October 25th. Clarkson Capital restated a “neutral” rating on shares of Freeport-McMoRan in a report on Monday, September 23rd. BMO Capital Markets boosted their price objective on shares of Freeport-McMoRan from $11.00 to $12.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Finally, Morgan Stanley restated an “overweight” rating and set a $13.30 price objective on shares of Freeport-McMoRan in a report on Thursday, November 7th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $13.10.

Freeport-McMoRan Company Profile

Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.

Recommended Story: Book Value Per Share – BVPS

Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freeport-McMoRan Inc (NYSE:FCX).

Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.