Freeport-McMoRan Inc. $FCX Holdings Lowered by Doliver Advisors LP

Doliver Advisors LP trimmed its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,269 shares of the natural resource company’s stock after selling 323 shares during the period. Doliver Advisors LP’s holdings in Freeport-McMoRan were worth $358,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kestra Private Wealth Services LLC grew its holdings in Freeport-McMoRan by 0.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 62,015 shares of the natural resource company’s stock valued at $2,348,000 after buying an additional 275 shares during the last quarter. Princeton Capital Management LLC grew its holdings in Freeport-McMoRan by 1.1% in the 1st quarter. Princeton Capital Management LLC now owns 25,980 shares of the natural resource company’s stock valued at $984,000 after buying an additional 275 shares during the last quarter. Capital Investment Advisory Services LLC grew its holdings in Freeport-McMoRan by 3.2% in the 1st quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company’s stock valued at $345,000 after buying an additional 278 shares during the last quarter. Capital Analysts LLC grew its holdings in Freeport-McMoRan by 12.5% in the 1st quarter. Capital Analysts LLC now owns 2,550 shares of the natural resource company’s stock valued at $96,000 after buying an additional 284 shares during the last quarter. Finally, Sargent Investment Group LLC grew its holdings in Freeport-McMoRan by 2.8% in the 1st quarter. Sargent Investment Group LLC now owns 10,421 shares of the natural resource company’s stock valued at $395,000 after buying an additional 285 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $44.72 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21. The company has a market capitalization of $64.21 billion, a PE ratio of 33.88, a price-to-earnings-growth ratio of 0.87 and a beta of 1.59. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $52.61. The business has a 50 day simple moving average of $43.66 and a 200 day simple moving average of $40.12.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.45 by $0.09. The business had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $6.85 billion. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.Freeport-McMoRan’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $0.46 EPS. On average, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 22.73%.

Wall Street Analysts Forecast Growth

FCX has been the topic of a number of research analyst reports. Stifel Canada raised Freeport-McMoRan to a “strong-buy” rating in a report on Tuesday, July 8th. Wall Street Zen raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Royal Bank Of Canada raised their target price on Freeport-McMoRan from $52.00 to $54.00 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. Bank of America reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Freeport-McMoRan in a report on Wednesday, July 9th. Finally, Stifel Nicolaus assumed coverage on Freeport-McMoRan in a research report on Wednesday, July 9th. They issued a “buy” rating and a $56.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

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.