Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC lowered its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 30.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,255 shares of the natural resource company’s stock after selling 1,422 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Freeport-McMoRan were worth $158,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FCX. Vanguard Group Inc. increased its stake in Freeport-McMoRan by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 120,698,442 shares of the natural resource company’s stock valued at $5,675,241,000 after buying an additional 1,210,833 shares during the period. Capital Research Global Investors increased its stake in shares of Freeport-McMoRan by 22.0% during the first quarter. Capital Research Global Investors now owns 72,896,288 shares of the natural resource company’s stock worth $3,427,583,000 after acquiring an additional 13,143,562 shares during the period. Fisher Asset Management LLC raised its holdings in Freeport-McMoRan by 1.8% during the fourth quarter. Fisher Asset Management LLC now owns 55,656,836 shares of the natural resource company’s stock worth $2,369,312,000 after purchasing an additional 976,592 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Freeport-McMoRan by 6.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,882,874 shares of the natural resource company’s stock valued at $1,734,234,000 after purchasing an additional 2,392,800 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Freeport-McMoRan by 7.9% in the 1st quarter. Bank of New York Mellon Corp now owns 21,157,118 shares of the natural resource company’s stock valued at $994,808,000 after purchasing an additional 1,551,828 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Raymond James cut their target price on Freeport-McMoRan from $54.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Scotiabank cut their price objective on Freeport-McMoRan from $58.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, August 19th. UBS Group upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $54.00 to $55.00 in a research report on Wednesday, September 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $60.00 price target on shares of Freeport-McMoRan in a research note on Wednesday, July 24th. Finally, BNP Paribas upgraded Freeport-McMoRan to a “strong-buy” rating in a research report on Friday, June 21st. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.07.

Freeport-McMoRan Trading Up 1.8 %

NYSE FCX opened at $43.92 on Thursday. The company has a market cap of $63.09 billion, a P/E ratio of 38.87, a P/E/G ratio of 1.94 and a beta of 1.89. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $55.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.40 and a quick ratio of 1.34. The company has a 50-day moving average of $43.97 and a 200-day moving average of $47.09.

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

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 15th were issued a $0.15 dividend. 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 payout ratio is currently 26.55%.

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.