Moody Lynn & Lieberson LLC Has $3.56 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Moody Lynn & Lieberson LLC trimmed its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 2.8% during the third quarter, Holdings Channel.com reports. The firm owned 71,300 shares of the natural resource company’s stock after selling 2,073 shares during the period. Moody Lynn & Lieberson LLC’s holdings in Freeport-McMoRan were worth $3,559,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. grew its holdings in Freeport-McMoRan by 13.6% during the first quarter. Sunbelt Securities Inc. now owns 11,139 shares of the natural resource company’s stock worth $524,000 after buying an additional 1,333 shares in the last quarter. Brookstone Capital Management grew its holdings in Freeport-McMoRan by 12.0% during the first quarter. Brookstone Capital Management now owns 8,217 shares of the natural resource company’s stock worth $386,000 after buying an additional 883 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in Freeport-McMoRan by 57.8% during the first quarter. Wealthcare Advisory Partners LLC now owns 9,709 shares of the natural resource company’s stock worth $457,000 after buying an additional 3,557 shares in the last quarter. Procyon Advisors LLC grew its holdings in Freeport-McMoRan by 10.7% during the first quarter. Procyon Advisors LLC now owns 25,843 shares of the natural resource company’s stock worth $1,215,000 after buying an additional 2,493 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Freeport-McMoRan by 3.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 157,645 shares of the natural resource company’s stock worth $7,412,000 after buying an additional 4,547 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FCX shares. UBS Group upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and upped their price target for the stock from $54.00 to $55.00 in a report on Wednesday, September 4th. Raymond James upped their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Scotiabank reduced their price objective on Freeport-McMoRan from $53.00 to $52.00 and set a “sector perform” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on Freeport-McMoRan from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $46.84 on Friday. The business’s 50-day moving average price is $45.93 and its two-hundred day moving average price is $47.85. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $55.24. The stock has a market cap of $67.29 billion, a P/E ratio of 41.45, a PEG ratio of 2.03 and a beta of 1.90. The company has a quick ratio of 1.34, a current ratio of 2.40 and a debt-to-equity ratio of 0.30.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. Freeport-McMoRan had a return on equity of 7.60% and a net margin of 7.83%. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter last year, the firm posted $0.39 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts predict that Freeport-McMoRan Inc. will post 1.58 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be issued a $0.075 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.64%. Freeport-McMoRan’s payout ratio is currently 26.55%.

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.