Fiera Capital Corp Purchases 10,410 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Fiera Capital Corp increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 11.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 97,541 shares of the natural resource company’s stock after buying an additional 10,410 shares during the period. Fiera Capital Corp’s holdings in Freeport-McMoRan were worth $4,869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Freeport-McMoRan by 0.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 64,053 shares of the natural resource company’s stock valued at $3,012,000 after purchasing an additional 203 shares during the period. Empowered Funds LLC grew its position in shares of Freeport-McMoRan by 55.7% during the 1st quarter. Empowered Funds LLC now owns 30,229 shares of the natural resource company’s stock worth $1,421,000 after buying an additional 10,820 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Freeport-McMoRan by 20.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,160 shares of the natural resource company’s stock valued at $290,000 after acquiring an additional 1,032 shares in the last quarter. Atomi Financial Group Inc. lifted its position in shares of Freeport-McMoRan by 12.7% during the 1st quarter. Atomi Financial Group Inc. now owns 9,549 shares of the natural resource company’s stock valued at $449,000 after acquiring an additional 1,073 shares during the period. Finally, Sei Investments Co. boosted its stake in Freeport-McMoRan by 4.0% during the first quarter. Sei Investments Co. now owns 566,772 shares of the natural resource company’s stock worth $26,650,000 after acquiring an additional 21,889 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FCX shares. UBS Group raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $54.00 to $55.00 in a research report on Wednesday, September 4th. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Morgan Stanley decreased their price objective on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, September 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $60.00 target price on shares of Freeport-McMoRan in a report on Wednesday, July 24th. Finally, Raymond James boosted their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Six investment 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Freeport-McMoRan Trading Down 4.6 %

Shares of FCX stock opened at $46.36 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. The company has a market capitalization of $66.61 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 2.00 and a beta of 1.91. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $55.24. The company has a 50-day simple moving average of $46.45 and a two-hundred day simple moving average of $47.58.

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

Freeport-McMoRan Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Tuesday, October 15th. Freeport-McMoRan’s dividend payout ratio is 21.90%.

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.