Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by De Lisle Partners LLP

De Lisle Partners LLP boosted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 14.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,000 shares of the natural resource company’s stock after buying an additional 15,000 shares during the quarter. Freeport-McMoRan accounts for approximately 1.0% of De Lisle Partners LLP’s holdings, making the stock its 25th biggest holding. De Lisle Partners LLP’s holdings in Freeport-McMoRan were worth $5,956,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in Freeport-McMoRan in the first quarter valued at about $34,000. Virtu Financial LLC acquired a new stake in shares of Freeport-McMoRan during the first quarter worth approximately $423,000. LRI Investments LLC acquired a new stake in Freeport-McMoRan in the first quarter valued at $26,000. Sanibel Captiva Trust Company Inc. boosted its stake in Freeport-McMoRan by 6.0% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 7,833 shares of the natural resource company’s stock valued at $368,000 after acquiring an additional 441 shares during the last quarter. Finally, First City Capital Management Inc. grew its holdings in Freeport-McMoRan by 4.6% during the 1st quarter. First City Capital Management Inc. now owns 16,106 shares of the natural resource company’s stock worth $757,000 after acquiring an additional 705 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Up 0.6 %

Shares of NYSE:FCX opened at $43.75 on Thursday. Freeport-McMoRan Inc. has a twelve month low of $36.04 and a twelve month high of $55.24. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The firm has a market cap of $62.87 billion, a P/E ratio of 31.93, a P/E/G ratio of 1.92 and a beta of 1.91. The company has a 50 day moving average of $46.91 and a 200-day moving average of $46.99.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (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 company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. Freeport-McMoRan’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, analysts anticipate that Freeport-McMoRan Inc. will post 1.51 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Tuesday, October 15th. Freeport-McMoRan’s payout ratio is 21.90%.

Analysts Set New Price Targets

Several analysts have issued reports on FCX shares. Raymond James upped their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Morgan Stanley reduced their price objective on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Scotiabank lowered their target price on shares of Freeport-McMoRan from $53.00 to $52.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Finally, UBS Group upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $54.00 to $55.00 in a research note on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.