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

Mutual Advisors LLC raised its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Callan Family Office LLC lifted its stake in Freeport-McMoRan by 229.9% in the 2nd quarter. Callan Family Office LLC now owns 26,983 shares of the natural resource company’s stock worth $1,170,000 after purchasing an additional 18,803 shares in the last quarter. Stratos Investment Management LLC increased its holdings in shares of Freeport-McMoRan by 238.5% in the first quarter. Stratos Investment Management LLC now owns 64,519 shares of the natural resource company’s stock worth $2,443,000 after purchasing an additional 45,458 shares during the last quarter. Bourgeon Capital Management LLC lifted its position in shares of Freeport-McMoRan by 8.1% in the second quarter. Bourgeon Capital Management LLC now owns 331,549 shares of the natural resource company’s stock worth $14,373,000 after buying an additional 24,803 shares in the last quarter. Arizona State Retirement System boosted its stake in Freeport-McMoRan by 2.2% during the first quarter. Arizona State Retirement System now owns 421,469 shares of the natural resource company’s stock valued at $15,957,000 after buying an additional 8,989 shares during the last quarter. Finally, Financial Sense Advisors Inc. grew its holdings in Freeport-McMoRan by 527.9% during the 1st quarter. Financial Sense Advisors Inc. now owns 76,127 shares of the natural resource company’s stock valued at $2,882,000 after buying an additional 64,003 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Clarkson Capital reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, September 25th. UBS Group set a $48.00 price target on shares of Freeport-McMoRan and gave the stock a “buy” rating in a research report on Friday, October 3rd. Raymond James Financial dropped their price objective on shares of Freeport-McMoRan from $55.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. Stifel Nicolaus started coverage on shares of Freeport-McMoRan in a research report on Wednesday, July 9th. They set a “buy” rating and a $56.00 target price on the stock. Finally, Wall Street Zen lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.92.

Freeport-McMoRan Stock Down 1.2%

Shares of NYSE:FCX opened at $41.18 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21. The business has a 50 day simple moving average of $42.64 and a two-hundred day simple moving average of $40.71. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $50.12. The firm has a market capitalization 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 (NYSE:FCX) last issued its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. The firm had revenue of $7.58 billion during the quarter, compared to analyst estimates of $6.85 billion. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 earnings per share. On average, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed 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 yield of 1.5%. Freeport-McMoRan’s dividend payout ratio is 22.73%.

About Freeport-McMoRan

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.