Fidelis Capital Partners LLC Has $556,000 Position in Freeport-McMoRan Inc. (NYSE:FCX)

Fidelis Capital Partners LLC decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 7.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,450 shares of the natural resource company’s stock after selling 954 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Freeport-McMoRan were worth $556,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Tompkins Financial Corp lifted its stake in shares of Freeport-McMoRan by 33.8% during the first quarter. Tompkins Financial Corp now owns 791 shares of the natural resource company’s stock valued at $37,000 after acquiring an additional 200 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Freeport-McMoRan by 0.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 64,053 shares of the natural resource company’s stock valued at $3,012,000 after purchasing an additional 203 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of Freeport-McMoRan by 0.5% during the 1st quarter. Proficio Capital Partners LLC now owns 40,083 shares of the natural resource company’s stock worth $1,885,000 after buying an additional 207 shares during the period. Kingsview Wealth Management LLC raised its stake in shares of Freeport-McMoRan by 4.3% during the first quarter. Kingsview Wealth Management LLC now owns 5,243 shares of the natural resource company’s stock worth $247,000 after buying an additional 214 shares during the last quarter. Finally, MV Capital Management Inc. lifted its holdings in Freeport-McMoRan by 38.6% in the first quarter. MV Capital Management Inc. now owns 794 shares of the natural resource company’s stock valued at $37,000 after buying an additional 221 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $44.53 on Monday. The firm has a market cap of $63.97 billion, a P/E ratio of 39.41, a PEG ratio of 1.94 and a beta of 1.89. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $55.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.34 and a current ratio of 2.40. The firm’s 50 day moving average price is $43.55 and its two-hundred day moving average price is $47.23.

Freeport-McMoRan (NYSE:FCX) last posted 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 business had revenue of $6.62 billion for 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%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 EPS. On average, analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Monday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 26.55%.

Analyst Ratings Changes

A number of research firms have commented on FCX. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on Freeport-McMoRan from $48.00 to $51.00 and gave the stock a “hold” rating in a research note on Monday, June 10th. BNP Paribas raised Freeport-McMoRan to a “strong-buy” rating in a research note on Friday, June 21st. Morgan Stanley decreased their target price on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $60.00 price target on shares of Freeport-McMoRan in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and an average price target of $52.79.

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.