Freeport-McMoRan Inc. $FCX Shares Sold by 180 Wealth Advisors LLC

180 Wealth Advisors LLC decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 74,400 shares of the natural resource company’s stock after selling 984 shares during the period. 180 Wealth Advisors LLC’s holdings in Freeport-McMoRan were worth $3,225,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FCX. Dagco Inc. acquired a new stake in Freeport-McMoRan in the 1st quarter valued at about $37,000. Beacon Capital Management LLC raised its holdings in Freeport-McMoRan by 59.6% in the 2nd quarter. Beacon Capital Management LLC now owns 876 shares of the natural resource company’s stock valued at $38,000 after acquiring an additional 327 shares during the last quarter. CKW Financial Group acquired a new stake in Freeport-McMoRan in the 1st quarter valued at about $40,000. Greykasell Wealth Strategies Inc. acquired a new stake in Freeport-McMoRan in the 1st quarter valued at about $42,000. Finally, Hilltop National Bank acquired a new stake in Freeport-McMoRan in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $41.13 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.21 and a current ratio of 2.47. The stock has a market capitalization of $59.06 billion, a P/E ratio of 31.16, a PEG ratio of 0.98 and a beta of 1.58. The company has a 50 day moving average price of $42.57 and a 200 day moving average price of $40.88. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $49.21.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, October 23rd. The natural resource company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The company had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter last year, the company posted $0.38 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

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

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of recent analyst reports. Johnson Rice cut their price target on shares of Freeport-McMoRan from $55.00 to $48.00 in a report on Monday, September 29th. Citigroup upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a report on Wednesday, October 8th. Raymond James Financial cut their price target on shares of Freeport-McMoRan from $55.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $42.00 price target for the company in a report on Tuesday, September 30th. Finally, UBS Group set a $48.00 price objective on shares of Freeport-McMoRan and gave the stock a “buy” rating in a research report on Friday, October 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.92.

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.