Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Captrust Financial Advisors

Captrust Financial Advisors increased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 737,181 shares of the natural resource company’s stock after purchasing an additional 20,576 shares during the period. Captrust Financial Advisors owned 0.05% of Freeport-McMoRan worth $36,800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FCX. Matrix Trust Co acquired a new position in shares of Freeport-McMoRan during the third quarter valued at $25,000. Spectrum Wealth Counsel LLC bought a new stake in Freeport-McMoRan in the 2nd quarter valued at about $25,000. Hazlett Burt & Watson Inc. lifted its position in Freeport-McMoRan by 1,170.7% in the 2nd 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 during the last quarter. Lynx Investment Advisory acquired a new position in Freeport-McMoRan during the 2nd quarter valued at about $26,000. Finally, LRI Investments LLC bought a new position in Freeport-McMoRan in the 1st quarter worth about $26,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Ratings Changes

FCX has been the subject of several analyst reports. Morgan Stanley reduced their price objective 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. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. UBS Group upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $54.00 to $55.00 in a research note on Wednesday, September 4th. Raymond James increased their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Scotiabank lowered 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 research note on Wednesday, October 23rd. Six investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Freeport-McMoRan Trading Up 1.0 %

Shares of NYSE:FCX opened at $44.20 on Friday. The stock has a market capitalization of $63.51 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 17.26 and a beta of 1.91. Freeport-McMoRan Inc. has a 1-year low of $36.04 and a 1-year high of $55.24. The company has a 50 day moving average price of $46.88 and a 200 day moving average price of $46.95. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01. The business had revenue of $6.79 billion during 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 company’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company posted $0.39 EPS. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.5 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.075 per share. The ex-dividend date was Tuesday, October 15th. This represents a $0.30 annualized dividend and a yield of 0.68%. Freeport-McMoRan’s payout ratio is presently 21.90%.

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.