Freeport-McMoRan Inc. $FCX Shares Purchased by Childress Capital Advisors LLC

Childress Capital Advisors LLC lifted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 6.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,704 shares of the natural resource company’s stock after purchasing an additional 457 shares during the quarter. Childress Capital Advisors LLC’s holdings in Freeport-McMoRan were worth $334,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FCX. City Holding Co. acquired a new stake in Freeport-McMoRan during the 1st quarter worth about $33,000. Dagco Inc. acquired a new stake in Freeport-McMoRan during the 1st quarter worth about $37,000. Beacon Capital Management LLC lifted its position in Freeport-McMoRan by 59.6% during the 2nd quarter. Beacon Capital Management LLC now owns 876 shares of the natural resource company’s stock worth $38,000 after acquiring an additional 327 shares during the period. CKW Financial Group acquired a new stake in Freeport-McMoRan during the 1st quarter worth about $40,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in Freeport-McMoRan during the 1st quarter worth about $42,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $39.11 on Thursday. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $51.45. The stock has a 50 day moving average of $42.69 and a two-hundred day moving average of $40.54. The company has a current ratio of 2.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30. The firm has a market cap of $56.15 billion, a P/E ratio of 29.63, a price-to-earnings-growth ratio of 0.72 and a beta of 1.59.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data 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. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The company had revenue of $7.58 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same period in the previous year, the business earned $0.46 EPS. Freeport-McMoRan’s quarterly revenue was up 14.5% on a year-over-year basis. On average, analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

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

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of research reports. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and set a $48.50 price target for the company in a research report on Thursday, September 25th. CICC Research reduced their price objective on Freeport-McMoRan from $51.60 to $42.30 and set an “outperform” rating for the company in a research note on Friday, September 26th. BNP Paribas Exane reduced their price objective on Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. Citigroup lifted their price objective on Freeport-McMoRan from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Finally, Hsbc Global Res lowered Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus target price of $46.49.

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.