Axxcess Wealth Management LLC Has $1.55 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Axxcess Wealth Management LLC raised its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 68.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,960 shares of the natural resource company’s stock after buying an additional 12,958 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Freeport-McMoRan were worth $1,553,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Tompkins Financial Corp lifted its holdings in Freeport-McMoRan by 33.8% during the 1st quarter. Tompkins Financial Corp now owns 791 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Freeport-McMoRan by 0.3% during 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 lifted its holdings in 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 valued at $1,885,000 after purchasing an additional 207 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in Freeport-McMoRan by 4.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 5,243 shares of the natural resource company’s stock valued at $247,000 after purchasing an additional 214 shares during the last quarter. Finally, MV Capital Management Inc. lifted its holdings in Freeport-McMoRan by 38.6% during the 1st quarter. MV Capital Management Inc. now owns 794 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 221 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on FCX shares. BNP Paribas raised shares of Freeport-McMoRan to a “strong-buy” rating in a report on Friday, June 21st. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted 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. Scotiabank dropped their target price on shares of Freeport-McMoRan from $58.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, August 19th. Finally, Raymond James dropped their target price on shares of Freeport-McMoRan from $54.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Four 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.07.

Freeport-McMoRan Trading Up 1.8 %

FCX opened at $43.92 on Thursday. 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 market cap of $63.09 billion, a price-to-earnings ratio of 38.87, a price-to-earnings-growth ratio of 1.94 and a beta of 1.89. The firm has a 50 day simple moving average of $43.97 and a 200 day simple moving average of $47.09. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. The firm 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%. The business’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. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 15th were issued 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 is currently 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.