UMB Financial institution n.a. decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 5.7% within the third quarter, in line with its most up-to-date Type 13F submitting with the Securities & Trade Fee. The institutional investor owned 6,105 shares of the pure useful resource firm’s inventory after promoting 366 shares throughout the interval. UMB Financial institution n.a.’s holdings in Freeport-McMoRan have been value $305,000 on the finish of the latest reporting interval.
Different hedge funds and different institutional traders additionally not too long ago modified their holdings of the corporate. Hazlett Burt & Watson Inc. grew its stake in Freeport-McMoRan by 1,170.7% within the 2nd quarter. Hazlett Burt & Watson Inc. now owns 521 shares of the pure useful resource firm’s inventory valued at $25,000 after shopping for a further 480 shares within the final quarter. Spectrum Wealth Counsel LLC bought a brand new place in shares of Freeport-McMoRan within the second quarter valued at $25,000. LRI Investments LLC purchased a brand new stake in shares of Freeport-McMoRan throughout the 1st quarter valued at $26,000. Lynx Funding Advisory bought a brand new stake in Freeport-McMoRan throughout the 2nd quarter value about $26,000. Lastly, College of Texas Texas AM Funding Administration Co. bought a brand new place in Freeport-McMoRan throughout the 2nd quarter valued at about $27,000. Institutional traders personal 80.77% of the corporate’s inventory.
Wall Road Analyst Weigh In
A number of equities analysts not too long ago commented on the inventory. Morgan Stanley lowered their value goal on shares of Freeport-McMoRan from $60.00 to $58.00 and set an “chubby” score for the corporate in a analysis word on Thursday, September nineteenth. StockNews.com lower shares of Freeport-McMoRan from a “purchase” score to a “maintain” score in a report on Thursday, September twenty sixth. UBS Group raised Freeport-McMoRan from a “impartial” score to a “purchase” score and lifted their value goal for the corporate from $54.00 to $55.00 in a analysis word on Wednesday, September 4th. Royal Financial institution of Canada reaffirmed a “sector carry out” score and issued a $60.00 value goal on shares of Freeport-McMoRan in a report on Wednesday, July twenty fourth. Lastly, Raymond James lifted their value goal on Freeport-McMoRan from $53.00 to $55.00 and gave the corporate an “outperform” score in a analysis report on Monday, September twenty third. Six equities analysis analysts have rated the inventory with a maintain score, 9 have assigned a purchase score and one has given a robust purchase score to the corporate. In line with MarketBeat, the inventory presently has a mean score of “Reasonable Purchase” and a mean value goal of $53.00.
Verify Out Our Newest Report on FCX
Freeport-McMoRan Value Efficiency
FCX inventory opened at $50.03 on Friday. The corporate has a debt-to-equity ratio of 0.30, a fast ratio of 1.34 and a present ratio of two.40. The agency has a market cap of $71.89 billion, a P/E ratio of 37.90, a P/E/G ratio of two.03 and a beta of 1.90. The agency’s fifty day transferring common is $44.75 and its 200 day transferring common is $47.85. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week excessive of $55.24.
Freeport-McMoRan (NYSE:FCX – Get Free Report) final launched its earnings outcomes on Tuesday, July twenty third. The pure useful resource firm reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. Freeport-McMoRan had a return on fairness of seven.60% and a internet margin of seven.83%. The corporate had income of $6.62 billion throughout the quarter, in comparison with analyst estimates of $6 billion. Throughout the identical quarter within the earlier yr, the corporate posted $0.35 EPS. Freeport-McMoRan’s income for the quarter was up 15.5% on a year-over-year foundation. Analysis analysts predict that Freeport-McMoRan Inc. will publish 1.58 earnings per share for the present yr.
Freeport-McMoRan Cuts Dividend
The corporate additionally not too long ago introduced a quarterly dividend, which shall be paid on Friday, November 1st. Traders of document on Tuesday, October fifteenth shall be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Tuesday, October fifteenth. Freeport-McMoRan’s payout ratio is 22.73%.
About Freeport-McMoRan
Freeport-McMoRan Inc engages within the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and different metals. The corporate’s belongings embody 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, in addition to Cerro Verde in Peru and El Abra in Chile.
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