S.A. Mason LLC Purchases 1,307 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

S.A. Mason LLC grew its position in Freeport-McMoRan Inc. (NYSE:FCX) by 42.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,413 shares of the natural resource company’s stock after buying an additional 1,307 shares during the period. S.A. Mason LLC’s holdings in Freeport-McMoRan were worth $220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FCX. Matrix Trust Co acquired a new position in shares of Freeport-McMoRan during the third quarter valued at about $25,000. Spectrum Wealth Counsel LLC purchased a new position in shares of Freeport-McMoRan in the second quarter worth $25,000. Hazlett Burt & Watson Inc. lifted its stake in shares of Freeport-McMoRan by 1,170.7% during the second quarter. Hazlett Burt & Watson Inc. now owns 521 shares of the natural resource company’s stock worth $25,000 after buying an additional 480 shares during the period. Lynx Investment Advisory purchased a new stake in shares of Freeport-McMoRan during the second quarter valued at $26,000. Finally, LRI Investments LLC acquired a new position in shares of Freeport-McMoRan in the 1st quarter valued at $26,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 1.3 %

Shares of NYSE:FCX opened at $45.97 on Thursday. The business’s 50 day moving average price is $46.14 and its 200-day moving average price is $47.72. Freeport-McMoRan Inc. has a 1 year low of $32.83 and a 1 year high of $55.24. The firm has a market capitalization of $66.05 billion, a price-to-earnings ratio of 33.55, a price-to-earnings-growth ratio of 1.99 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 1.34.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period last year, the firm posted $0.39 earnings per share. The company’s revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.59 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a $0.075 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.65%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 21.90%.

Analyst Ratings Changes

A number of analysts have commented on FCX shares. Scotiabank lowered their price target on Freeport-McMoRan from $53.00 to $52.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Royal Bank of Canada restated a “sector perform” rating and set a $60.00 target price on shares of Freeport-McMoRan in a research report on Wednesday, July 24th. Raymond James lifted 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. Finally, Morgan Stanley lowered their target price 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. Six 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.