Freeport-McMoRan Inc. (NYSE:FCX) Holdings Raised by Hills Bank & Trust Co

Hills Bank & Trust Co increased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,913 shares of the natural resource company’s stock after purchasing an additional 288 shares during the quarter. Hills Bank & Trust Co’s holdings in Freeport-McMoRan were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. LRI Investments LLC acquired a new stake in shares of Freeport-McMoRan during the first quarter valued at approximately $26,000. Lynx Investment Advisory acquired a new stake in Freeport-McMoRan during the 2nd quarter valued at $26,000. Jones Financial Companies Lllp lifted its holdings in shares of Freeport-McMoRan by 422.2% in the fourth quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 532 shares in the last quarter. RFP Financial Group LLC lifted its holdings in shares of Freeport-McMoRan by 261.3% in the second quarter. RFP Financial Group LLC now owns 589 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 426 shares in the last quarter. Finally, POM Investment Strategies LLC purchased a new position in shares of Freeport-McMoRan during the second quarter valued at $31,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FCX shares. Scotiabank decreased their price objective on Freeport-McMoRan from $58.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Freeport-McMoRan from $48.00 to $51.00 and gave the stock a “hold” rating in a report on Monday, June 10th. UBS Group upped their price objective on shares of Freeport-McMoRan from $41.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. BNP Paribas raised shares of Freeport-McMoRan to a “strong-buy” rating in a research note on Friday, June 21st. Finally, Morgan Stanley upgraded Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $49.50 to $62.00 in a report on Friday, June 21st. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock traded up $1.36 on Friday, hitting $44.66. The company’s stock had a trading volume of 11,801,118 shares, compared to its average volume of 13,436,732. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $55.24. The firm has a market cap of $64.15 billion, a P/E ratio of 39.52, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The company has a quick ratio of 1.34, a current ratio of 2.40 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average price of $46.30 and a 200-day moving average price of $46.55.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Tuesday, July 23rd. The natural resource company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6 billion. Freeport-McMoRan had a net margin of 7.83% and a return on equity of 7.60%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.67 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.34%. Freeport-McMoRan’s payout ratio is presently 26.55%.

Freeport-McMoRan Company 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.