Curated Wealth Partners LLC Has $735,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Curated Wealth Partners LLC cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,382 shares of the natural resource company’s stock after selling 421 shares during the period. Curated Wealth Partners LLC’s holdings in Freeport-McMoRan were worth $735,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Beech Hill Advisors Inc. lifted its position in Freeport-McMoRan by 1.5% during the 2nd quarter. Beech Hill Advisors Inc. now owns 47,300 shares of the natural resource company’s stock valued at $1,892,000 after purchasing an additional 700 shares during the period. Czech National Bank raised its holdings in Freeport-McMoRan by 0.8% during the 2nd quarter. Czech National Bank now owns 169,672 shares of the natural resource company’s stock worth $6,787,000 after buying an additional 1,311 shares during the period. Level Four Advisory Services LLC raised its holdings in Freeport-McMoRan by 14.3% during the 2nd quarter. Level Four Advisory Services LLC now owns 11,698 shares of the natural resource company’s stock worth $468,000 after buying an additional 1,461 shares during the period. AE Wealth Management LLC raised its holdings in Freeport-McMoRan by 7.6% during the 2nd quarter. AE Wealth Management LLC now owns 111,676 shares of the natural resource company’s stock worth $4,467,000 after buying an additional 7,891 shares during the period. Finally, Trust Co. of Toledo NA OH raised its holdings in Freeport-McMoRan by 4.4% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 11,351 shares of the natural resource company’s stock worth $454,000 after buying an additional 475 shares during the period. 77.96% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of FCX opened at $40.37 on Friday. The company has a current ratio of 2.94, a quick ratio of 1.72 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $40.92 and its 200 day simple moving average is $39.31. Freeport-McMoRan Inc. has a 1-year low of $26.03 and a 1-year high of $46.73. The company has a market cap of $57.88 billion, a price-to-earnings ratio of 27.84 and a beta of 2.07.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, July 20th. The natural resource company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Freeport-McMoRan had a return on equity of 9.45% and a net margin of 9.63%. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same period last year, the firm earned $0.58 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, research analysts forecast that Freeport-McMoRan Inc. will post 1.62 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 14th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. Freeport-McMoRan’s dividend payout ratio (DPR) is 20.69%.

Analysts Set New Price Targets

FCX has been the topic of several research analyst reports. Morgan Stanley restated an “equal weight” rating and set a $38.50 target price on shares of Freeport-McMoRan in a report on Friday, July 21st. 3M reiterated an “initiates” rating on shares of Freeport-McMoRan in a report on Thursday, June 29th. Scotiabank lowered their price objective on shares of Freeport-McMoRan from $49.00 to $48.00 in a report on Tuesday, July 25th. Raymond James lifted their price objective on shares of Freeport-McMoRan from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, July 21st. Finally, 1-800-FLOWERS.COM reiterated an “initiates” rating on shares of Freeport-McMoRan in a report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Hold” and an average price target of $39.96.

Freeport-McMoRan 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.