Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by GenTrust LLC

GenTrust LLC lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,343 shares of the natural resource company’s stock after purchasing an additional 1,758 shares during the quarter. GenTrust LLC’s holdings in Freeport-McMoRan were worth $2,513,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. increased its position in shares of Freeport-McMoRan by 1,170.7% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 521 shares of the natural resource company’s stock valued at $25,000 after purchasing an additional 480 shares during the period. Spectrum Wealth Counsel LLC acquired a new stake in shares of Freeport-McMoRan in the second quarter valued at $25,000. Matrix Trust Co bought a new position in Freeport-McMoRan during the third quarter valued at about $25,000. LRI Investments LLC acquired a new position in Freeport-McMoRan during the first quarter worth about $26,000. Finally, Lynx Investment Advisory bought a new stake in Freeport-McMoRan in the second quarter worth about $26,000. Institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Scotiabank dropped their price target on Freeport-McMoRan from $53.00 to $52.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. UBS Group raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $54.00 to $55.00 in a research note on Wednesday, September 4th. JPMorgan Chase & Co. boosted their target price on Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Finally, Raymond James increased their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Freeport-McMoRan Stock Down 0.1 %

FCX stock opened at $43.72 on Friday. The company has a 50 day moving average of $46.85 and a two-hundred day moving average of $47.20. 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 12-month low of $36.04 and a 12-month high of $55.24. The company has a market cap of $62.82 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 1.89 and a beta of 1.91.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter last year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.51 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 15th were paid a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.69%. Freeport-McMoRan’s payout ratio is 21.90%.

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.