Nisa Investment Advisors LLC Has $13.36 Million Stock Position in Freeport-McMoRan Inc. $FCX

Nisa Investment Advisors LLC lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 11.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 308,284 shares of the natural resource company’s stock after selling 40,899 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $13,364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FCX. Brighton Jones LLC grew its holdings in shares of Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after buying an additional 2,882 shares in the last quarter. Bison Wealth LLC increased its holdings in shares of Freeport-McMoRan by 5.6% in the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after purchasing an additional 507 shares during the last quarter. GAMMA Investing LLC raised its holdings in Freeport-McMoRan by 5.6% in the 1st quarter. GAMMA Investing LLC now owns 22,805 shares of the natural resource company’s stock valued at $863,000 after acquiring an additional 1,219 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Freeport-McMoRan by 6.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 32,019 shares of the natural resource company’s stock worth $1,212,000 after purchasing an additional 1,969 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of Freeport-McMoRan by 20.2% in the first quarter. Creative Financial Designs Inc. ADV now owns 2,306 shares of the natural resource company’s stock valued at $87,000 after acquiring an additional 388 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FCX. CICC Research decreased their price target on Freeport-McMoRan from $51.60 to $42.30 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Scotiabank upped their target price on Freeport-McMoRan from $45.00 to $49.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 14th. BNP Paribas Exane reduced their price target on Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. Clarkson Capital restated a “neutral” rating and issued a $42.00 target price on shares of Freeport-McMoRan in a report on Thursday, September 25th. Finally, Sanford C. Bernstein decreased their price target on shares of Freeport-McMoRan from $48.50 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average target price of $46.92.

Freeport-McMoRan Price Performance

FCX opened at $41.04 on Tuesday. The firm has a 50-day moving average price of $42.54 and a 200-day moving average price of $41.15. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $49.21. The company has a quick ratio of 1.19, a current ratio of 2.45 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $58.92 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 0.95 and a beta of 1.58.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, October 23rd. The natural resource company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%. The company had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.74 billion. During the same period last year, the firm earned $0.38 EPS. Freeport-McMoRan’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $0.60 annualized dividend and a yield of 1.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 21.13%.

Freeport-McMoRan 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.