Quadrant Capital Group LLC Has $464,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Quadrant Capital Group LLC lowered its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 12.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,594 shares of the natural resource company’s stock after selling 1,653 shares during the period. Quadrant Capital Group LLC’s holdings in Freeport-McMoRan were worth $464,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. FMR LLC lifted its position in shares of Freeport-McMoRan by 2.6% during the 1st quarter. FMR LLC now owns 105,191,820 shares of the natural resource company’s stock worth $4,303,397,000 after purchasing an additional 2,667,362 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Freeport-McMoRan by 1.7% during the 2nd quarter. Fisher Asset Management LLC now owns 54,842,377 shares of the natural resource company’s stock worth $2,193,695,000 after purchasing an additional 895,617 shares during the last quarter. Geode Capital Management LLC raised its holdings in Freeport-McMoRan by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 25,338,465 shares of the natural resource company’s stock valued at $1,033,858,000 after acquiring an additional 472,160 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Freeport-McMoRan by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,659,892 shares of the natural resource company’s stock valued at $866,396,000 after acquiring an additional 1,574,761 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Freeport-McMoRan by 4.8% in the 4th quarter. Morgan Stanley now owns 16,533,638 shares of the natural resource company’s stock valued at $628,278,000 after acquiring an additional 753,458 shares in the last quarter. Institutional investors and hedge funds own 77.96% of the company’s stock.

Freeport-McMoRan Stock Up 1.3 %

NYSE FCX opened at $36.00 on Friday. The firm has a market cap of $51.62 billion, a PE ratio of 24.32 and a beta of 2.06. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $46.73. The stock’s 50 day simple moving average is $36.11 and its 200 day simple moving average is $38.05. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.90 and a quick ratio of 1.67.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, October 19th. The natural resource company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.43 billion. Freeport-McMoRan had a return on equity of 9.98% and a net margin of 9.50%. Freeport-McMoRan’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 EPS. As a group, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.45 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 13th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, October 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.67%. Freeport-McMoRan’s dividend payout ratio is currently 20.27%.

Analyst Ratings Changes

FCX has been the subject of several recent research reports. Stifel Nicolaus cut their price target on Freeport-McMoRan from $49.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. Raymond James cut their price target on Freeport-McMoRan from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, October 20th. Morgan Stanley lowered their price objective on Freeport-McMoRan from $44.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Friday, October 20th. Scotiabank lowered their price objective on Freeport-McMoRan from $49.00 to $48.00 in a research note on Tuesday, July 25th. Finally, BMO Capital Markets lowered their price objective on Freeport-McMoRan from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has an average rating of “Hold” and a consensus target price of $42.50.

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.