Kraematon Investment Advisors Inc. Sells 985 Shares of Freeport-McMoRan Inc. $FCX

Kraematon Investment Advisors Inc. decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 11.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,470 shares of the natural resource company’s stock after selling 985 shares during the period. Kraematon Investment Advisors Inc.’s holdings in Freeport-McMoRan were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Accel Wealth Management bought a new position in Freeport-McMoRan in the 2nd quarter worth approximately $200,000. Checchi Capital Advisers LLC boosted its holdings in shares of Freeport-McMoRan by 2.9% in the second quarter. Checchi Capital Advisers LLC now owns 11,080 shares of the natural resource company’s stock worth $480,000 after acquiring an additional 309 shares during the period. Sava Infond d.o.o. grew its position in shares of Freeport-McMoRan by 50.0% in the second quarter. Sava Infond d.o.o. now owns 6,000 shares of the natural resource company’s stock valued at $260,000 after purchasing an additional 2,000 shares in the last quarter. LGT Fund Management Co Ltd. raised its stake in shares of Freeport-McMoRan by 1,028.6% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 89,862 shares of the natural resource company’s stock valued at $3,896,000 after purchasing an additional 81,900 shares during the period. Finally, Stock Yards Bank & Trust Co. purchased a new stake in Freeport-McMoRan during the 2nd quarter worth about $204,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $39.66 on Friday. The firm has a market cap of $56.94 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 0.72 and a beta of 1.58. The company’s fifty day simple moving average is $42.47 and its two-hundred day simple moving average is $40.54. The company has a quick ratio of 1.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $51.19.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.09. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The company had revenue of $7.58 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same period last year, the firm earned $0.46 earnings per share. Freeport-McMoRan’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 22.73%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FCX shares. HSBC decreased their price target on Freeport-McMoRan from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Thursday, September 25th. BMO Capital Markets decreased their target price on shares of Freeport-McMoRan from $54.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, September 24th. Stifel Canada raised shares of Freeport-McMoRan to a “strong-buy” rating in a report on Tuesday, July 8th. Johnson Rice reduced their target price on Freeport-McMoRan from $55.00 to $48.00 in a research report on Monday, September 29th. Finally, UBS Group set a $48.00 price target on Freeport-McMoRan and gave the company a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.74.

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.