Freeport-McMoRan Inc. $FCX Stock Holdings Lifted by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 8.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 694,196 shares of the natural resource company’s stock after buying an additional 51,328 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Freeport-McMoRan were worth $30,093,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FCX. Kingsview Wealth Management LLC acquired a new stake in shares of Freeport-McMoRan in the second quarter worth about $216,000. Intech Investment Management LLC raised its stake in shares of Freeport-McMoRan by 40.1% in the 2nd quarter. Intech Investment Management LLC now owns 25,184 shares of the natural resource company’s stock valued at $1,092,000 after acquiring an additional 7,211 shares in the last quarter. Creative Planning lifted its holdings in Freeport-McMoRan by 16.3% in the 2nd quarter. Creative Planning now owns 327,361 shares of the natural resource company’s stock worth $14,191,000 after purchasing an additional 45,861 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Freeport-McMoRan by 7.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 352,236 shares of the natural resource company’s stock worth $15,269,000 after purchasing an additional 23,596 shares during the last quarter. Finally, Empower Advisory Group LLC boosted its position in Freeport-McMoRan by 4.7% during the second quarter. Empower Advisory Group LLC now owns 1,488,821 shares of the natural resource company’s stock worth $64,540,000 after purchasing an additional 66,178 shares during the period. Institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

FCX has been the topic of a number of recent analyst reports. BNP Paribas Exane dropped their price target on shares of Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. Dbs Bank dropped their target price on shares of Freeport-McMoRan from $51.00 to $48.00 in a report on Thursday, October 2nd. HSBC raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $50.00 in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freeport-McMoRan in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Freeport-McMoRan from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $47.01.

Freeport-McMoRan Stock Down 2.8%

FCX stock opened at $39.02 on Tuesday. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $49.12. The company has a quick ratio of 1.19, a current ratio of 2.45 and a debt-to-equity ratio of 0.29. The company has a market cap of $56.03 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 0.94 and a beta of 1.64. The business’s 50-day simple moving average is $41.47 and its 200 day simple moving average is $41.82.

Freeport-McMoRan (NYSE:FCX) last posted 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. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The firm had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter in the prior year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 21.13%.

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.