Faithward Advisors LLC Has $3.32 Million Stock Holdings in Freeport-McMoRan Inc. $FCX

Faithward Advisors LLC trimmed its position in Freeport-McMoRan Inc. (NYSE:FCX) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,598 shares of the natural resource company’s stock after selling 1,208 shares during the quarter. Faithward Advisors LLC’s holdings in Freeport-McMoRan were worth $3,316,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FCX. City Holding Co. acquired a new stake in Freeport-McMoRan in the first quarter valued at about $33,000. Bernard Wealth Management Corp. acquired a new stake in Freeport-McMoRan in the fourth quarter valued at about $35,000. Dagco Inc. acquired a new stake in Freeport-McMoRan in the first quarter valued at about $37,000. CKW Financial Group acquired a new stake in Freeport-McMoRan in the first quarter valued at about $40,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in Freeport-McMoRan in the first quarter valued at about $42,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Up 0.7%

NYSE FCX opened at $46.37 on Monday. The business has a 50 day simple moving average of $43.64 and a 200 day simple moving average of $39.87. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $52.61. The stock has a market capitalization of $66.58 billion, a P/E ratio of 35.13, a P/E/G ratio of 0.88 and a beta of 1.59. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The firm had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter last year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. Research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 22.73%.

Analyst Ratings Changes

FCX has been the subject of several research reports. Royal Bank Of Canada increased their target price on Freeport-McMoRan from $52.00 to $54.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. UBS Group downgraded Freeport-McMoRan from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $45.00 to $50.00 in a research report on Friday, July 11th. Morgan Stanley downgraded Freeport-McMoRan from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $45.00 to $54.00 in a research report on Tuesday, July 15th. BMO Capital Markets lowered their price objective on Freeport-McMoRan from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, July 24th. Finally, Bank of America restated a “neutral” rating and set a $56.00 price objective on shares of Freeport-McMoRan in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

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.