Ranch Capital Advisors Inc. Purchases 440 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Ranch Capital Advisors Inc. lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,088 shares of the natural resource company’s stock after purchasing an additional 440 shares during the period. Ranch Capital Advisors Inc.’s holdings in Freeport-McMoRan were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. grew its holdings in Freeport-McMoRan by 1,170.7% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 521 shares of the natural resource company’s stock worth $25,000 after acquiring an additional 480 shares during the last quarter. Spectrum Wealth Counsel LLC acquired a new stake in Freeport-McMoRan in the second quarter valued at $25,000. LRI Investments LLC acquired a new stake in Freeport-McMoRan in the first quarter valued at $26,000. Lynx Investment Advisory acquired a new position in Freeport-McMoRan during the 2nd quarter worth about $26,000. Finally, Jones Financial Companies Lllp lifted its holdings in Freeport-McMoRan by 422.2% during the 4th quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock worth $28,000 after buying an additional 532 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $45.14 on Friday. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $55.24. The firm has a market capitalization of $64.84 billion, a PE ratio of 39.95, a price-to-earnings-growth ratio of 1.94 and a beta of 1.89. The firm has a fifty day simple moving average of $43.82 and a two-hundred day simple moving average of $47.06. The company has a current ratio of 2.40, a quick ratio of 1.34 and a debt-to-equity ratio of 0.30.

Freeport-McMoRan (NYSE:FCX) last posted its 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. The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6 billion. Freeport-McMoRan had a net margin of 7.83% and a return on equity of 7.60%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. Analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 15th were given a dividend of $0.15 per share. The ex-dividend date was Monday, July 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. Freeport-McMoRan’s payout ratio is 26.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FCX shares. BNP Paribas upgraded Freeport-McMoRan to a “strong-buy” rating in a research report on Friday, June 21st. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Wednesday. Scotiabank reduced their price objective on shares of Freeport-McMoRan from $58.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Freeport-McMoRan from $48.00 to $51.00 and gave the stock a “hold” rating in a research note on Monday, June 10th. Finally, Raymond James cut their price target on shares of Freeport-McMoRan from $54.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.79.

Freeport-McMoRan Company 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.