Hantz Financial Services Inc. Acquires 383 Shares of Freeport-McMoRan Inc. $FCX

Hantz Financial Services Inc. increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,804 shares of the natural resource company’s stock after purchasing an additional 383 shares during the quarter. Hantz Financial Services Inc.’s holdings in Freeport-McMoRan were worth $3,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Callan Family Office LLC grew its stake in shares of Freeport-McMoRan by 229.9% in the second quarter. Callan Family Office LLC now owns 26,983 shares of the natural resource company’s stock worth $1,170,000 after purchasing an additional 18,803 shares during the last quarter. New York Life Investment Management LLC boosted its position in Freeport-McMoRan by 11.8% during the 2nd quarter. New York Life Investment Management LLC now owns 215,058 shares of the natural resource company’s stock valued at $9,323,000 after acquiring an additional 22,766 shares in the last quarter. Stratos Investment Management LLC boosted its position in Freeport-McMoRan by 238.5% during the 1st quarter. Stratos Investment Management LLC now owns 64,519 shares of the natural resource company’s stock valued at $2,443,000 after acquiring an additional 45,458 shares in the last quarter. Bourgeon Capital Management LLC boosted its position in Freeport-McMoRan by 8.1% during the 2nd quarter. Bourgeon Capital Management LLC now owns 331,549 shares of the natural resource company’s stock valued at $14,373,000 after acquiring an additional 24,803 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Freeport-McMoRan by 2.2% during the 1st quarter. Arizona State Retirement System now owns 421,469 shares of the natural resource company’s stock valued at $15,957,000 after acquiring an additional 8,989 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on FCX shares. Raymond James Financial cut their price objective on Freeport-McMoRan from $55.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. Stifel Canada raised Freeport-McMoRan to a “strong-buy” rating in a research report on Tuesday, July 8th. Dbs Bank cut their price objective on Freeport-McMoRan from $51.00 to $48.00 in a research report on Thursday, October 2nd. BNP Paribas Exane cut their price objective on Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. Finally, UBS Group set a $48.00 price objective on Freeport-McMoRan and gave the company a “buy” rating in a research report on Friday, October 3rd. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.01.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $41.76 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.45 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average price is $42.52 and its 200-day moving average price is $41.34. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $49.21. The stock has a market cap of $59.96 billion, a P/E ratio of 29.41, a P/E/G ratio of 0.94 and a beta of 1.58.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, October 23rd. The natural resource company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The firm had revenue of $6.97 billion for the quarter, compared to analysts’ expectations of $6.74 billion. During the same period in the previous year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts anticipate 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. Investors of record on Wednesday, October 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, October 15th. Freeport-McMoRan’s payout ratio is presently 21.13%.

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.