Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Catalina Capital Group LLC

Catalina Capital Group LLC boosted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 9.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,656 shares of the natural resource company’s stock after buying an additional 589 shares during the period. Catalina Capital Group LLC’s holdings in Freeport-McMoRan were worth $332,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FCX. Capital Research Global Investors grew its stake in Freeport-McMoRan by 22.0% during the 1st quarter. Capital Research Global Investors now owns 72,896,288 shares of the natural resource company’s stock valued at $3,427,583,000 after acquiring an additional 13,143,562 shares in the last quarter. Capital International Investors acquired a new position in Freeport-McMoRan during the first quarter worth $417,752,000. Capital World Investors raised its holdings in Freeport-McMoRan by 40.9% during the first quarter. Capital World Investors now owns 15,155,256 shares of the natural resource company’s stock valued at $712,600,000 after buying an additional 4,396,309 shares in the last quarter. Asia Research & Capital Management Ltd acquired a new stake in shares of Freeport-McMoRan in the first quarter worth about $197,966,000. Finally, Swedbank AB acquired a new stake in Freeport-McMoRan in the 1st quarter worth approximately $162,464,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 0.3 %

Shares of NYSE FCX opened at $46.87 on Thursday. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $55.24. The company’s fifty day moving average is $46.31 and its 200-day moving average is $47.59. The stock has a market cap of $67.35 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 1.98 and a beta of 1.91.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same quarter last year, the firm posted $0.39 earnings per share. Freeport-McMoRan’s revenue was up 16.6% compared to the same quarter last year. Equities research analysts predict that Freeport-McMoRan Inc. will post 1.52 EPS for the current year.

Freeport-McMoRan Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Tuesday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 21.90%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $60.00 price objective on shares of Freeport-McMoRan in a report on Wednesday, July 24th. Scotiabank dropped their target price on shares of Freeport-McMoRan from $53.00 to $52.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Morgan Stanley cut their target price 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 cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.00.

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.