TFG Advisers LLC Has $911,000 Stock Holdings in Freeport-McMoRan Inc. $FCX

TFG Advisers LLC lowered its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.8% in the second quarter, HoldingsChannel reports. The firm owned 21,010 shares of the natural resource company’s stock after selling 819 shares during the period. TFG Advisers LLC’s holdings in Freeport-McMoRan were worth $911,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC raised its holdings in shares of Freeport-McMoRan by 0.4% during the first quarter. Kestra Private Wealth Services LLC now owns 62,015 shares of the natural resource company’s stock worth $2,348,000 after acquiring an additional 275 shares during the period. Princeton Capital Management LLC lifted its holdings in shares of Freeport-McMoRan by 1.1% in the first quarter. Princeton Capital Management LLC now owns 25,980 shares of the natural resource company’s stock valued at $984,000 after purchasing an additional 275 shares in the last quarter. Capital Investment Advisory Services LLC boosted its position in shares of Freeport-McMoRan by 3.2% during the first quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company’s stock worth $345,000 after buying an additional 278 shares during the period. Capital Analysts LLC lifted its stake in Freeport-McMoRan by 12.5% in the 1st quarter. Capital Analysts LLC now owns 2,550 shares of the natural resource company’s stock valued at $96,000 after acquiring an additional 284 shares in the last quarter. Finally, Sargent Investment Group LLC boosted its position in Freeport-McMoRan by 2.8% during the 1st quarter. Sargent Investment Group LLC now owns 10,421 shares of the natural resource company’s stock worth $395,000 after acquiring an additional 285 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $39.11 on Thursday. The company has a 50-day simple moving average of $42.69 and a two-hundred day simple moving average of $40.54. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $51.45. The stock has a market capitalization of $56.15 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 0.72 and a beta of 1.59. 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 released its quarterly earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. The company had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $6.85 billion. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.46 earnings per share. Analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be given a $0.15 dividend. The ex-dividend date 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 presently 22.73%.

Analysts Set New Price Targets

Several research analysts recently commented on FCX shares. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $42.00 target price for the company in a report on Tuesday. Scotiabank reissued a “sector perform” rating and issued a $45.00 price objective (down previously from $55.00) on shares of Freeport-McMoRan in a research report on Thursday, September 25th. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and set a $48.50 price target for the company in a report on Thursday, September 25th. CICC Research dropped their price objective on shares of Freeport-McMoRan from $51.60 to $42.30 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Finally, Wall Street Zen downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average target price of $46.49.

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.