Freeport-McMoRan Inc. (NYSE:FCX) Holdings Lifted by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. boosted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 18.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,265 shares of the natural resource company’s stock after acquiring an additional 2,514 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Freeport-McMoRan were worth $790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Tompkins Financial Corp grew its position in Freeport-McMoRan by 33.8% during the first quarter. Tompkins Financial Corp now owns 791 shares of the natural resource company’s stock worth $37,000 after buying an additional 200 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Freeport-McMoRan by 0.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 64,053 shares of the natural resource company’s stock valued at $3,012,000 after purchasing an additional 203 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in Freeport-McMoRan by 0.5% during the first quarter. Proficio Capital Partners LLC now owns 40,083 shares of the natural resource company’s stock worth $1,885,000 after buying an additional 207 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of Freeport-McMoRan by 4.3% in the 1st quarter. Kingsview Wealth Management LLC now owns 5,243 shares of the natural resource company’s stock valued at $247,000 after buying an additional 214 shares in the last quarter. Finally, MV Capital Management Inc. lifted its holdings in shares of Freeport-McMoRan by 38.6% during the 1st quarter. MV Capital Management Inc. now owns 794 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 221 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 0.5 %

Shares of FCX stock opened at $42.89 on Tuesday. The firm has a fifty day moving average of $44.12 and a 200-day moving average of $47.05. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month high of $55.24. The company has a market capitalization of $61.61 billion, a price-to-earnings ratio of 37.96, a P/E/G ratio of 1.94 and a beta of 1.89. The company has a quick ratio of 1.34, a current ratio of 2.40 and a debt-to-equity ratio of 0.30.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Tuesday, July 23rd. The natural resource company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.39 by $0.07. Freeport-McMoRan had a return on equity of 7.60% and a net margin of 7.83%. The firm had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same quarter in the previous year, the business posted $0.35 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 15th were paid a $0.15 dividend. The ex-dividend date was Monday, July 15th. This represents a $0.60 annualized dividend and a yield of 1.40%. Freeport-McMoRan’s payout ratio is currently 26.55%.

Analysts Set New Price Targets

A number of analysts recently weighed in on FCX shares. UBS Group raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and upped their target price for the company from $54.00 to $55.00 in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lifted their price target on Freeport-McMoRan from $48.00 to $51.00 and gave the company a “hold” rating in a report on Monday, June 10th. Morgan Stanley raised Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $49.50 to $62.00 in a research note on Friday, June 21st. BNP Paribas upgraded Freeport-McMoRan to a “strong-buy” rating in a report on Friday, June 21st. Finally, StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.07.

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. 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.