Freeport-McMoRan Inc. $FCX Shares Acquired by Sava Infond d.o.o.

Sava Infond d.o.o. grew its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 50.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,000 shares of the natural resource company’s stock after acquiring an additional 2,000 shares during the quarter. Sava Infond d.o.o.’s holdings in Freeport-McMoRan were worth $260,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FCX. Brighton Jones LLC increased its stake in shares of Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after acquiring an additional 2,882 shares during the last quarter. Bison Wealth LLC increased its stake in shares of Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after acquiring an additional 507 shares during the last quarter. Merit Financial Group LLC increased its stake in shares of Freeport-McMoRan by 37.9% in the 1st quarter. Merit Financial Group LLC now owns 36,401 shares of the natural resource company’s stock worth $1,378,000 after acquiring an additional 9,996 shares during the last quarter. Generali Investments Management Co LLC increased its stake in shares of Freeport-McMoRan by 33.3% in the 1st quarter. Generali Investments Management Co LLC now owns 20,867 shares of the natural resource company’s stock worth $790,000 after acquiring an additional 5,216 shares during the last quarter. Finally, Intellectus Partners LLC increased its stake in shares of Freeport-McMoRan by 1.5% in the 1st quarter. Intellectus Partners LLC now owns 72,352 shares of the natural resource company’s stock worth $2,739,000 after acquiring an additional 1,088 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $39.66 on Friday. The business has a 50-day moving average of $42.47 and a 200 day moving average of $40.54. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $51.19. The stock has a market capitalization of $56.94 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 0.71 and a beta of 1.58. 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 earnings results 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. The company had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $6.85 billion. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.Freeport-McMoRan’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. As a group, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 22.73%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $46.00 target price on shares of Freeport-McMoRan in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft lowered their price target on Freeport-McMoRan from $47.00 to $45.00 and set a “buy” rating for the company in a report on Thursday. Hsbc Global Res cut Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Freeport-McMoRan in a report on Saturday, September 27th. Finally, UBS Group set a $48.00 price target on Freeport-McMoRan and gave the stock a “buy” rating in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $46.74.

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.