Freeport-McMoRan Inc. $FCX Stock Holdings Raised by Csenge Advisory Group

Csenge Advisory Group increased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 20.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 51,722 shares of the natural resource company’s stock after purchasing an additional 8,884 shares during the quarter. Csenge Advisory Group’s holdings in Freeport-McMoRan were worth $3,621,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. TOWER TRUST & INVESTMENT Co increased its holdings in Freeport-McMoRan by 1.3% during the third quarter. TOWER TRUST & INVESTMENT Co now owns 12,177 shares of the natural resource company’s stock worth $852,000 after buying an additional 157 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Freeport-McMoRan by 11.6% in the second quarter. Richardson Financial Services Inc. now owns 1,539 shares of the natural resource company’s stock valued at $97,000 after acquiring an additional 160 shares during the last quarter. Breakwater Capital Group lifted its stake in Freeport-McMoRan by 1.0% in the third quarter. Breakwater Capital Group now owns 15,930 shares of the natural resource company’s stock valued at $1,115,000 after acquiring an additional 160 shares during the last quarter. Signature Wealth Management Partners LLC grew its position in shares of Freeport-McMoRan by 1.4% in the 3rd quarter. Signature Wealth Management Partners LLC now owns 12,271 shares of the natural resource company’s stock valued at $859,000 after acquiring an additional 166 shares during the period. Finally, Fiduciary Financial Group LLC grew its position in shares of Freeport-McMoRan by 2.6% in the 2nd quarter. Fiduciary Financial Group LLC now owns 6,788 shares of the natural resource company’s stock valued at $427,000 after acquiring an additional 173 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Insider Activity

In other Freeport-McMoRan news, Director Lydia H. Kennard sold 3,798 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.11, for a total value of $300,459.78. Following the transaction, the director directly owned 122,702 shares of the company’s stock, valued at $9,706,955.22. This represents a 3.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Douglas N. Currault II sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the sale, the executive vice president owned 211,016 shares of the company’s stock, valued at $16,577,416.96. This trade represents a 27.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.73% of the company’s stock.

Freeport-McMoRan Trading Up 3.1%

Shares of Freeport-McMoRan stock opened at $62.17 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.02 and a quick ratio of 0.91. The business has a fifty day simple moving average of $69.04 and a two-hundred day simple moving average of $65.29. Freeport-McMoRan Inc. has a 1 year low of $38.85 and a 1 year high of $80.24. The company has a market capitalization of $89.28 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 0.56 and a beta of 1.38.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, October 27th. The natural resource company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.36 billion. Freeport-McMoRan had a net margin of 13.03% and a return on equity of 12.09%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. Research analysts forecast that Freeport-McMoRan Inc. will post 3.03 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th were paid a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 12.61%.

Analyst Ratings Changes

FCX has been the topic of several recent analyst reports. BMO Capital Markets boosted their price objective on shares of Freeport-McMoRan from $78.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 29th. Morgan Stanley raised their target price on shares of Freeport-McMoRan from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 7th. Sanford C. Bernstein reduced their price target on Freeport-McMoRan from $50.00 to $47.00 and set a “market perform” rating for the company in a report on Wednesday, September 9th. Wells Fargo & Company reduced their price target on Freeport-McMoRan from $87.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday, October 28th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Freeport-McMoRan in a research report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.30.

About Freeport-McMoRan

Freeport-McMoRan Inc. is a mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Its products serve industries including construction, manufacturing, electronics and energy. The company operates mines and related facilities in North America, South America and Indonesia. Its assets include the Grasberg minerals district in Indonesia and copper operations in the United States, Peru and Chile. Freeport-McMoRan traces its roots to Freeport Sulphur Company, founded in 1912, and has since developed into a major international mining business.