5,000 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Bought by Nkcfo LLC

Nkcfo LLC acquired a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,000 shares of the natural resource company’s stock, valued at approximately $243,000.

Several other large investors have also bought and sold shares of FCX. Brown Advisory Inc. boosted its holdings in Freeport-McMoRan by 45.0% during the fourth quarter. Brown Advisory Inc. now owns 27,703 shares of the natural resource company’s stock worth $1,179,000 after purchasing an additional 8,602 shares during the last quarter. Quest Partners LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $527,000. Assetmark Inc. boosted its stake in shares of Freeport-McMoRan by 71.3% in the 4th quarter. Assetmark Inc. now owns 1,555 shares of the natural resource company’s stock worth $66,000 after buying an additional 647 shares during the last quarter. US Bancorp DE grew its holdings in shares of Freeport-McMoRan by 15.8% in the fourth quarter. US Bancorp DE now owns 178,251 shares of the natural resource company’s stock valued at $7,588,000 after acquiring an additional 24,282 shares in the last quarter. Finally, Cypress Asset Management Inc. TX bought a new position in shares of Freeport-McMoRan in the fourth quarter valued at approximately $429,000. 80.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FCX shares. Morgan Stanley cut their price objective on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday. UBS Group upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $54.00 to $55.00 in a research note on Wednesday, September 4th. Raymond James reduced their price target on shares of Freeport-McMoRan from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Freeport-McMoRan from $48.00 to $51.00 and gave the company a “hold” rating in a research report on Monday, June 10th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.79.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $44.51 on Friday. The stock has a fifty day moving average of $43.55 and a 200-day moving average of $47.09. The stock has a market cap of $63.94 billion, a PE ratio of 39.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.34 and a current ratio of 2.40. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Tuesday, July 23rd. The natural resource company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.39 by $0.07. The company had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6 billion. Freeport-McMoRan had a net margin of 7.83% and a return on equity of 7.60%. Freeport-McMoRan’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 earnings per share. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The firm 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. This represents a $0.60 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Monday, July 15th. Freeport-McMoRan’s payout ratio is 26.55%.

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.