4,232 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Bought by LJI Wealth Management LLC

LJI Wealth Management LLC bought a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 4,232 shares of the natural resource company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blair William & Co. IL grew its position in shares of Freeport-McMoRan by 30.3% in the 2nd quarter. Blair William & Co. IL now owns 79,394 shares of the natural resource company’s stock worth $3,859,000 after buying an additional 18,461 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Freeport-McMoRan by 18.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 114,262 shares of the natural resource company’s stock valued at $5,544,000 after acquiring an additional 18,114 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Freeport-McMoRan by 171.5% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 73,379 shares of the natural resource company’s stock worth $3,566,000 after purchasing an additional 46,351 shares during the last quarter. Argent Trust Co increased its position in shares of Freeport-McMoRan by 8.2% during the second quarter. Argent Trust Co now owns 39,937 shares of the natural resource company’s stock worth $1,941,000 after purchasing an additional 3,031 shares in the last quarter. Finally, True Vision MN LLC purchased a new stake in shares of Freeport-McMoRan during the 2nd quarter valued at $462,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 1.8 %

Shares of Freeport-McMoRan stock opened at $43.92 on Thursday. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $55.24. The firm’s 50-day moving average price is $43.97 and its 200 day moving average price is $47.09. The company has a current ratio of 2.40, a quick ratio of 1.34 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $63.09 billion, a PE ratio of 38.87, a P/E/G ratio of 1.94 and a beta of 1.89.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Tuesday, July 23rd. The natural resource company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Freeport-McMoRan had a return on equity of 7.60% and a net margin of 7.83%. The firm had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6 billion. During the same period in the previous year, the company posted $0.35 earnings per share. The business’s revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Monday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 26.55%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FCX. Morgan Stanley raised Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $49.50 to $62.00 in a research report on Friday, June 21st. Raymond James lowered their price target on Freeport-McMoRan from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. BNP Paribas raised Freeport-McMoRan to a “strong-buy” rating in a report on Friday, June 21st. StockNews.com upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Freeport-McMoRan from $48.00 to $51.00 and gave the company a “hold” rating in a research report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $53.07.

Freeport-McMoRan 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.