Freeport-McMoRan Inc. $FCX Shares Sold by Community Bank of Raymore

Community Bank of Raymore decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,775 shares of the natural resource company’s stock after selling 1,450 shares during the quarter. Freeport-McMoRan accounts for approximately 1.2% of Community Bank of Raymore’s holdings, making the stock its 25th largest position. Community Bank of Raymore’s holdings in Freeport-McMoRan were worth $1,681,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cidel Asset Management Inc. raised its stake in shares of Freeport-McMoRan by 9.1% during the second quarter. Cidel Asset Management Inc. now owns 8,899 shares of the natural resource company’s stock valued at $386,000 after purchasing an additional 739 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in Freeport-McMoRan during the 2nd quarter valued at about $487,000. Signature Estate & Investment Advisors LLC increased its stake in Freeport-McMoRan by 0.3% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 210,120 shares of the natural resource company’s stock valued at $9,109,000 after buying an additional 558 shares during the period. Woodard & Co. Asset Management Group Inc. ADV raised its position in shares of Freeport-McMoRan by 1.2% during the 2nd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 43,751 shares of the natural resource company’s stock worth $1,897,000 after buying an additional 507 shares in the last quarter. Finally, Novare Capital Management LLC acquired a new stake in shares of Freeport-McMoRan in the 2nd quarter worth approximately $240,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $41.18 on Monday. The company has a market capitalization of $59.12 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. 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 fifty day moving average of $42.64 and a 200-day moving average of $40.71. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $50.12.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The company had revenue of $7.58 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same period in the previous year, the firm earned $0.46 earnings per share. Freeport-McMoRan’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Freeport-McMoRan from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Morgan Stanley cut their target price on Freeport-McMoRan from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. BMO Capital Markets lowered their price target on Freeport-McMoRan from $54.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 24th. Stifel Canada raised Freeport-McMoRan to a “strong-buy” rating in a research note on Tuesday, July 8th. Finally, CICC Research cut their price objective on Freeport-McMoRan from $51.60 to $42.30 and set an “outperform” rating for the company in a report on Friday, September 26th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.92.

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.