4,866 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Acquired by Sivia Capital Partners LLC

Sivia Capital Partners LLC purchased a new position in Freeport-McMoRan Inc. (NYSE:FCX) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,866 shares of the natural resource company’s stock, valued at approximately $243,000.

A number of other large investors have also recently bought and sold shares of FCX. Syon Capital LLC grew its holdings in Freeport-McMoRan by 33.2% during the 4th quarter. Syon Capital LLC now owns 11,289 shares of the natural resource company’s stock valued at $481,000 after buying an additional 2,815 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $43,000. ICA Group Wealth Management LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $77,000. Leo Wealth LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $289,000. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of Freeport-McMoRan by 53.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 72,206 shares of the natural resource company’s stock worth $3,074,000 after buying an additional 25,056 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $60.00 target price on shares of Freeport-McMoRan in a research report on Wednesday, July 24th. UBS Group upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $54.00 to $55.00 in a research note on Wednesday, September 4th. BNP Paribas upgraded Freeport-McMoRan to a “strong-buy” rating in a research note on Friday, June 21st. Morgan Stanley decreased their price target on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, September 19th. Finally, StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Freeport-McMoRan Stock Performance

Shares of FCX traded down $1.29 during mid-day trading on Monday, reaching $48.74. 7,416,993 shares of the company’s stock traded hands, compared to its average volume of 13,173,641. The business’s 50-day moving average price is $44.75 and its 200-day moving average price is $47.87. The stock has a market capitalization of $70.01 billion, a P/E ratio of 44.27, a price-to-earnings-growth ratio of 2.03 and a beta of 1.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.34 and a current ratio of 2.40. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Tuesday, July 23rd. The natural resource company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.39 by $0.07. Freeport-McMoRan had a return on equity of 7.60% and a net margin of 7.83%. The firm had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same quarter in the previous year, the company earned $0.35 earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities analysts predict that Freeport-McMoRan Inc. will post 1.58 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.30 annualized dividend and a yield of 0.62%. Freeport-McMoRan’s payout ratio is 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.