Hunter Associates Investment Management LLC Has $466,000 Stake in Freeport-McMoRan Inc. $FCX

Hunter Associates Investment Management LLC boosted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 22.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,768 shares of the natural resource company’s stock after purchasing an additional 2,000 shares during the period. Hunter Associates Investment Management LLC’s holdings in Freeport-McMoRan were worth $466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares 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 valued at $564,000 after buying an additional 2,882 shares during the period. 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 valued at $366,000 after buying an additional 507 shares during the period. Capital Investment Advisory Services LLC increased its stake in shares of Freeport-McMoRan by 3.2% in the 1st quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company’s stock valued at $345,000 after buying an additional 278 shares during the period. Concurrent Investment Advisors LLC increased its stake in shares of Freeport-McMoRan by 8.5% in the 1st quarter. Concurrent Investment Advisors LLC now owns 34,055 shares of the natural resource company’s stock valued at $1,289,000 after buying an additional 2,656 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in shares of Freeport-McMoRan by 12.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,760 shares of the natural resource company’s stock valued at $104,000 after buying an additional 301 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

FCX stock opened at $41.18 on Tuesday. The business’s 50-day moving average price is $42.47 and its two-hundred day moving average price is $41.51. The company has a current ratio of 2.45, a quick ratio of 1.19 and a debt-to-equity ratio of 0.29. The firm has a market cap of $59.12 billion, a PE ratio of 29.00, a P/E/G ratio of 0.94 and a beta of 1.58. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $49.21.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm had revenue of $6.97 billion for the quarter, compared to analyst estimates 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 company posted $0.38 earnings per share. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, October 15th. This represents a $0.60 annualized dividend and a yield of 1.5%. Freeport-McMoRan’s payout ratio is currently 21.13%.

Analyst Ratings Changes

FCX has been the subject of several research reports. BNP Paribas Exane lowered their target price on Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. Wall Street Zen raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. UBS Group set a $48.00 price objective on Freeport-McMoRan and gave the stock a “buy” rating in a research note on Friday, October 3rd. Clarkson Capital reaffirmed a “neutral” rating and set a $42.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, September 25th. Finally, Hsbc Global Res raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Four 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 company. According to data from MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average target price of $47.01.

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.