Quantinno Capital Management LP Acquires 131,001 Shares of Freeport-McMoRan Inc. $FCX

Quantinno Capital Management LP boosted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 25.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 655,119 shares of the natural resource company’s stock after buying an additional 131,001 shares during the period. Quantinno Capital Management LP’s holdings in Freeport-McMoRan were worth $38,508,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Steph & Co. raised its stake in Freeport-McMoRan by 43.7% during the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 150 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Freeport-McMoRan during the 1st quarter worth about $29,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Freeport-McMoRan during the 4th quarter worth about $25,000. Kemnay Advisory Services Inc. acquired a new position in shares of Freeport-McMoRan during the fourth quarter valued at about $29,000. Finally, Financial Life Planners bought a new stake in shares of Freeport-McMoRan in the first quarter valued at about $34,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FCX shares. CICC Research decreased their target price on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. BNP Paribas Exane raised their price objective on Freeport-McMoRan from $71.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. HSBC lifted their price objective on Freeport-McMoRan from $72.00 to $75.00 in a report on Friday, June 12th. Bank of America boosted their price objective on Freeport-McMoRan from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada raised their target price on Freeport-McMoRan from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.27.

Freeport-McMoRan Stock Up 5.7%

Shares of FCX opened at $63.43 on Friday. The company has a quick ratio of 0.92, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $63.68 and a two-hundred day moving average price of $62.56. The stock has a market cap of $91.18 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 0.60 and a beta of 1.37. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.28.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.12. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the company posted $0.54 EPS. The company’s revenue was down 7.3% compared to the same quarter last year. Equities analysts predict that Freeport-McMoRan Inc. will post 2.75 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, July 15th. Freeport-McMoRan’s dividend payout ratio is 14.78%.

About Freeport-McMoRan

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.