Leibman Financial Services Inc. Has $4.19 Million Stock Holdings in Freeport-McMoRan Inc. $FCX

Leibman Financial Services Inc. cut its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 8.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,545 shares of the natural resource company’s stock after selling 8,552 shares during the quarter. Freeport-McMoRan makes up approximately 3.2% of Leibman Financial Services Inc.’s holdings, making the stock its 7th biggest position. Leibman Financial Services Inc.’s holdings in Freeport-McMoRan were worth $4,185,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Aaron Wealth Advisors LLC grew its stake in shares of Freeport-McMoRan by 2.6% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 391,864 shares of the natural resource company’s stock valued at $16,987,000 after acquiring an additional 9,783 shares during the period. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Freeport-McMoRan during the 2nd quarter valued at approximately $2,877,000. Breakwater Capital Group grew its stake in shares of Freeport-McMoRan by 41.0% during the 2nd quarter. Breakwater Capital Group now owns 14,680 shares of the natural resource company’s stock valued at $636,000 after acquiring an additional 4,265 shares during the period. Balefire LLC bought a new position in shares of Freeport-McMoRan during the 2nd quarter valued at approximately $1,261,000. Finally, Krilogy Financial LLC bought a new position in shares of Freeport-McMoRan during the 2nd quarter valued at approximately $602,000. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $45.31 on Wednesday. The stock’s fifty day moving average is $43.65 and its two-hundred day moving average is $40.25. The company has a market capitalization of $65.05 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.59. The company has a quick ratio of 1.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $52.61.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.45 by $0.09. The company had revenue of $7.58 billion for 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 quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS. As a group, analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.3%. Freeport-McMoRan’s dividend payout ratio is presently 22.73%.

Analyst Ratings Changes

A number of research analysts recently issued reports on FCX shares. Royal Bank Of Canada boosted their price objective on Freeport-McMoRan from $52.00 to $54.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. upped their price target on Freeport-McMoRan from $42.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. UBS Group downgraded Freeport-McMoRan from a “buy” rating to a “neutral” rating and upped their price target for the stock from $45.00 to $50.00 in a research note on Friday, July 11th. Citigroup upped their price target on Freeport-McMoRan from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Finally, Stifel Nicolaus began coverage on Freeport-McMoRan in a research note on Wednesday, July 9th. They issued a “buy” rating and a $56.00 price target for the company. Two research 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.