Advisory Alpha LLC Has $367,000 Holdings in Freeport-McMoRan Inc. $FCX

Advisory Alpha LLC cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 7.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,470 shares of the natural resource company’s stock after selling 727 shares during the quarter. Advisory Alpha LLC’s holdings in Freeport-McMoRan were worth $367,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Callan Family Office LLC lifted its holdings in shares of Freeport-McMoRan by 229.9% during the 2nd quarter. Callan Family Office LLC now owns 26,983 shares of the natural resource company’s stock valued at $1,170,000 after buying an additional 18,803 shares during the last quarter. Stratos Investment Management LLC lifted its holdings in shares of Freeport-McMoRan by 238.5% during the 1st quarter. Stratos Investment Management LLC now owns 64,519 shares of the natural resource company’s stock valued at $2,443,000 after buying an additional 45,458 shares during the last quarter. Bourgeon Capital Management LLC lifted its holdings in shares of Freeport-McMoRan by 8.1% during the 2nd quarter. Bourgeon Capital Management LLC now owns 331,549 shares of the natural resource company’s stock valued at $14,373,000 after buying an additional 24,803 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Freeport-McMoRan by 2.2% during the 1st quarter. Arizona State Retirement System now owns 421,469 shares of the natural resource company’s stock valued at $15,957,000 after buying an additional 8,989 shares during the last quarter. Finally, Financial Sense Advisors Inc. lifted its holdings in shares of Freeport-McMoRan by 527.9% during the 1st quarter. Financial Sense Advisors Inc. now owns 76,127 shares of the natural resource company’s stock valued at $2,882,000 after buying an additional 64,003 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on FCX. HSBC upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $50.00 in a report on Friday, October 17th. UBS Group set a $48.00 target price on Freeport-McMoRan and gave the stock a “buy” rating in a report on Friday, October 3rd. Raymond James Financial reduced their target price on Freeport-McMoRan from $55.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. Weiss Ratings restated a “hold (c)” rating on shares of Freeport-McMoRan in a report on Wednesday, October 8th. Finally, BNP Paribas Exane reduced their target price on Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.01.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $42.14 on Thursday. 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 business’s 50 day moving average is $42.55 and its two-hundred day moving average is $41.28. The company has a market cap of $60.50 billion, a P/E ratio of 29.67, a P/E/G ratio of 0.93 and a beta of 1.58. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month 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, topping the consensus estimate of $0.41 by $0.09. The company had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.74 billion. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS. On average, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, October 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. Freeport-McMoRan’s payout ratio is currently 21.13%.

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.