Fielder Capital Group LLC Raises Position in Freeport-McMoRan Inc. $FCX

Fielder Capital Group LLC raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,646 shares of the natural resource company’s stock after buying an additional 478 shares during the period. Fielder Capital Group LLC’s holdings in Freeport-McMoRan were worth $418,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after purchasing an additional 2,882 shares in the last quarter. Bison Wealth LLC raised its holdings in shares of Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after purchasing an additional 507 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Freeport-McMoRan by 5.6% in the 1st quarter. GAMMA Investing LLC now owns 22,805 shares of the natural resource company’s stock valued at $863,000 after purchasing an additional 1,219 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Freeport-McMoRan by 3.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 189,765 shares of the natural resource company’s stock valued at $7,185,000 after purchasing an additional 5,557 shares in the last quarter. Finally, Moran Wealth Management LLC raised its holdings in shares of Freeport-McMoRan by 9.3% in the 1st quarter. Moran Wealth Management LLC now owns 35,543 shares of the natural resource company’s stock valued at $1,346,000 after purchasing an additional 3,030 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FCX shares. Wall Street Zen upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Saturday. BNP Paribas Exane reduced their price objective on shares of Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. BMO Capital Markets cut their price target on shares of Freeport-McMoRan from $54.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 24th. CICC Research cut their price target on shares of Freeport-McMoRan from $51.60 to $42.30 and set an “outperform” rating on the stock in a research note on Friday, September 26th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $46.00 price target on shares of Freeport-McMoRan in a research note on Wednesday, September 24th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus target price of $46.92.

Freeport-McMoRan Trading Up 0.3%

NYSE FCX opened at $41.34 on Friday. The firm has a market cap of $59.36 billion, a PE ratio of 29.12, a P/E/G ratio of 0.96 and a beta of 1.58. The firm’s fifty day moving average is $42.55 and its two-hundred day moving average is $40.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.21 and a current ratio of 2.45. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $49.21.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. The business had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.74 billion. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. Freeport-McMoRan’s payout ratio is presently 22.73%.

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.