Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC reduced its position in Freeport-McMoRan Inc. (NYSE:FCX) by 86.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,032 shares of the natural resource company’s stock after selling 93,269 shares during the quarter. Integrated Advisors Network LLC’s holdings in Freeport-McMoRan were worth $701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Hazlett Burt & Watson Inc. grew its holdings in shares of Freeport-McMoRan by 1,170.7% in the second quarter. Hazlett Burt & Watson Inc. now owns 521 shares of the natural resource company’s stock valued at $25,000 after purchasing an additional 480 shares in the last quarter. Spectrum Wealth Counsel LLC acquired a new position in shares of Freeport-McMoRan in the second quarter worth $25,000. Matrix Trust Co purchased a new stake in shares of Freeport-McMoRan during the third quarter worth $25,000. LRI Investments LLC acquired a new stake in shares of Freeport-McMoRan in the first quarter valued at $26,000. Finally, Lynx Investment Advisory purchased a new position in Freeport-McMoRan in the second quarter valued at $26,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $45.02 on Friday. Freeport-McMoRan Inc. has a 1 year low of $32.83 and a 1 year high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.34 and a current ratio of 2.33. The firm has a market cap of $64.69 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 1.99 and a beta of 1.90. The stock’s 50-day moving average is $46.14 and its two-hundred day moving average is $47.72.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share. Analysts predict that Freeport-McMoRan Inc. will post 1.59 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.30 annualized dividend and a yield of 0.67%. Freeport-McMoRan’s dividend payout ratio (DPR) is 21.90%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FCX. Raymond James increased their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Scotiabank reduced their target price on shares of Freeport-McMoRan from $53.00 to $52.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Morgan Stanley reduced their price objective on shares of Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

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. 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.