Capital Advisors Inc. OK Boosts Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Capital Advisors Inc. OK lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 785,754 shares of the natural resource company’s stock after buying an additional 3,433 shares during the quarter. Capital Advisors Inc. OK owned approximately 0.05% of Freeport-McMoRan worth $39,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Freeport-McMoRan by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 120,698,442 shares of the natural resource company’s stock valued at $5,675,241,000 after buying an additional 1,210,833 shares during the period. Capital Research Global Investors increased its position in Freeport-McMoRan by 22.0% during the first quarter. Capital Research Global Investors now owns 72,896,288 shares of the natural resource company’s stock worth $3,427,583,000 after purchasing an additional 13,143,562 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Freeport-McMoRan by 6.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,882,874 shares of the natural resource company’s stock worth $1,734,234,000 after purchasing an additional 2,392,800 shares during the period. Capital World Investors boosted its holdings in shares of Freeport-McMoRan by 40.9% in the 1st quarter. Capital World Investors now owns 15,155,256 shares of the natural resource company’s stock valued at $712,600,000 after purchasing an additional 4,396,309 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Freeport-McMoRan by 1.4% during the 1st quarter. Clearbridge Investments LLC now owns 14,454,789 shares of the natural resource company’s stock valued at $679,664,000 after buying an additional 200,877 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 1.3 %

NYSE FCX opened at $45.59 on Friday. The company has a market capitalization of $65.51 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 1.97 and a beta of 1.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $55.24. The company’s fifty day moving average price is $46.20 and its two-hundred day moving average price is $47.67.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same period last year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, research analysts predict that Freeport-McMoRan Inc. will post 1.52 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 15th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, October 15th. Freeport-McMoRan’s dividend payout ratio is presently 21.90%.

Analysts Set New Price Targets

FCX has been the subject of a number of research reports. Morgan Stanley lowered their price target on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, September 19th. Raymond James increased their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $60.00 price objective on shares of Freeport-McMoRan in a research note on Wednesday, July 24th. UBS Group upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and increased their price target for the company from $54.00 to $55.00 in a report on Wednesday, September 4th. Finally, StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Six 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

About Freeport-McMoRan

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.