Catalyst Capital Advisors LLC Has $1.42 Million Stock Holdings in Freeport-McMoRan Inc. $FCX

Catalyst Capital Advisors LLC boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 17.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 32,813 shares of the natural resource company’s stock after purchasing an additional 4,813 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Freeport-McMoRan were worth $1,422,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Asset Management One Co. Ltd. lifted its stake in shares of Freeport-McMoRan by 1.1% during the second quarter. Asset Management One Co. Ltd. now owns 643,302 shares of the natural resource company’s stock valued at $27,887,000 after acquiring an additional 6,707 shares during the period. FSM Wealth Advisors LLC acquired a new position in shares of Freeport-McMoRan during the second quarter valued at $245,000. First Citizens Bank & Trust Co. acquired a new position in shares of Freeport-McMoRan during the second quarter valued at $247,000. Bleakley Financial Group LLC lifted its position in Freeport-McMoRan by 6.5% during the 2nd quarter. Bleakley Financial Group LLC now owns 86,076 shares of the natural resource company’s stock valued at $3,731,000 after purchasing an additional 5,236 shares during the period. Finally, Strategic Blueprint LLC lifted its position in Freeport-McMoRan by 6.1% during the 2nd quarter. Strategic Blueprint LLC now owns 93,204 shares of the natural resource company’s stock valued at $4,040,000 after purchasing an additional 5,352 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Johnson Rice cut their target price on shares of Freeport-McMoRan from $55.00 to $48.00 in a research report on Monday, September 29th. BNP Paribas Exane cut their price objective on shares of Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Stifel Nicolaus began coverage on Freeport-McMoRan in a research note on Wednesday, July 9th. They issued a “buy” rating and a $56.00 price target on the stock. Sanford C. Bernstein cut their price target on Freeport-McMoRan from $48.50 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Finally, Clarkson Capital reissued a “neutral” rating and issued a $42.00 price target on shares of Freeport-McMoRan in a research note on Thursday, September 25th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target of $46.92.

Freeport-McMoRan Trading Up 0.9%

Shares of NYSE FCX opened at $41.13 on Friday. The company’s fifty day moving average is $42.57 and its 200-day moving average is $40.88. The stock has a market cap of $59.06 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 0.98 and a beta of 1.58. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $49.21. 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 (NYSE:FCX) last announced its quarterly earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The company had revenue of $6.97 billion for the quarter, compared to analysts’ expectations of $6.74 billion. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. Equities research analysts predict 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. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 22.73%.

Freeport-McMoRan Company 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.