Savior LLC trimmed its position in Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 48.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,120 shares of the natural resource company’s stock after selling 1,974 shares during the quarter. Savior LLC’s holdings in Freeport-McMoRan were worth $85,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in FCX. CENTRAL TRUST Co grew its position in Freeport-McMoRan by 2.5% in the first quarter. CENTRAL TRUST Co now owns 10,450 shares of the natural resource company’s stock worth $428,000 after acquiring an additional 250 shares in the last quarter. FinTrust Capital Advisors LLC grew its position in Freeport-McMoRan by 5.1% in the fourth quarter. FinTrust Capital Advisors LLC now owns 5,252 shares of the natural resource company’s stock worth $200,000 after acquiring an additional 253 shares in the last quarter. Stephens Consulting LLC grew its position in Freeport-McMoRan by 28.0% in the first quarter. Stephens Consulting LLC now owns 1,280 shares of the natural resource company’s stock worth $52,000 after acquiring an additional 280 shares in the last quarter. Atlas Brown Inc. grew its position in Freeport-McMoRan by 3.7% in the first quarter. Atlas Brown Inc. now owns 7,866 shares of the natural resource company’s stock worth $322,000 after acquiring an additional 284 shares in the last quarter. Finally, Ancora Advisors LLC grew its position in Freeport-McMoRan by 9.7% in the first quarter. Ancora Advisors LLC now owns 3,400 shares of the natural resource company’s stock worth $139,000 after acquiring an additional 300 shares in the last quarter. 77.96% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
FCX has been the subject of several recent analyst reports. Morgan Stanley restated an “equal weight” rating and set a $38.50 target price on shares of Freeport-McMoRan in a research report on Friday, July 21st. StockNews.com initiated coverage on Freeport-McMoRan in a research report on Thursday, August 17th. They set a “hold” rating for the company. Sanford C. Bernstein initiated coverage on Freeport-McMoRan in a research report on Thursday, June 29th. They set a “market perform” rating and a $41.00 target price for the company. Scotiabank dropped their target price on Freeport-McMoRan from $49.00 to $48.00 in a research report on Tuesday, July 25th. Finally, Raymond James boosted their target price on Freeport-McMoRan from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $39.96.
Freeport-McMoRan Stock Up 0.6 %
NYSE:FCX traded up $0.24 during trading hours on Friday, reaching $40.92. The company’s stock had a trading volume of 4,028,174 shares, compared to its average volume of 11,958,486. The company has a market capitalization of $58.66 billion, a P/E ratio of 28.06 and a beta of 2.07. Freeport-McMoRan Inc. has a 12 month low of $26.03 and a 12 month high of $46.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.72 and a current ratio of 2.94. The stock has a 50 day moving average price of $40.89 and a two-hundred day moving average price of $39.32.
Freeport-McMoRan (NYSE:FCX – Get Free Report) last issued its quarterly earnings results on Thursday, July 20th. The natural resource company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.61 billion. Freeport-McMoRan had a return on equity of 9.45% and a net margin of 9.63%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 earnings per share. Equities analysts predict that Freeport-McMoRan Inc. will post 1.62 EPS for the current fiscal year.
Freeport-McMoRan Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 14th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Thursday, July 13th. Freeport-McMoRan’s payout ratio is presently 20.69%.
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, as well as oil and gas. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.
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