Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by One Wealth Management Investment & Advisory Services LLC

One Wealth Management Investment & Advisory Services LLC cut its stake in shares of Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 17.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,144 shares of the natural resource company’s stock after selling 876 shares during the period. One Wealth Management Investment & Advisory Services LLC’s holdings in Freeport-McMoRan were worth $201,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Belpointe Asset Management LLC lifted its position in shares of Freeport-McMoRan by 38.6% during the fourth quarter. Belpointe Asset Management LLC now owns 16,891 shares of the natural resource company’s stock worth $719,000 after purchasing an additional 4,703 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Freeport-McMoRan by 1.8% in the 4th quarter. Fisher Asset Management LLC now owns 55,656,836 shares of the natural resource company’s stock worth $2,369,312,000 after buying an additional 976,592 shares in the last quarter. Oaktree Capital Management LP boosted its position in Freeport-McMoRan by 7.8% in the 4th quarter. Oaktree Capital Management LP now owns 2,917,913 shares of the natural resource company’s stock valued at $124,216,000 after buying an additional 211,608 shares during the last quarter. Norden Group LLC grew its stake in shares of Freeport-McMoRan by 1,823.1% during the first quarter. Norden Group LLC now owns 249,885 shares of the natural resource company’s stock valued at $11,750,000 after acquiring an additional 236,891 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Freeport-McMoRan by 1.0% during the first quarter. Vanguard Group Inc. now owns 120,698,442 shares of the natural resource company’s stock valued at $5,675,241,000 after acquiring an additional 1,210,833 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on FCX shares. Scotiabank reduced their price target on Freeport-McMoRan from $58.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft increased their target price on Freeport-McMoRan from $48.00 to $51.00 and gave the company a “hold” rating in a research note on Monday, June 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $60.00 price target on shares of Freeport-McMoRan in a research report on Wednesday, July 24th. BNP Paribas raised shares of Freeport-McMoRan to a “strong-buy” rating in a report on Friday, June 21st. Finally, UBS Group upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and increased their price objective for the company from $54.00 to $55.00 in a research note on Wednesday. Four investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.07.

View Our Latest Report on Freeport-McMoRan

Freeport-McMoRan Stock Performance

FCX traded down $1.40 on Friday, hitting $40.00. 13,200,142 shares of the company’s stock were exchanged, compared to its average volume of 13,271,306. The company has a current ratio of 2.40, a quick ratio of 1.34 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average of $45.16 and a two-hundred day moving average of $46.79. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $55.24. The firm has a market cap of $57.46 billion, a PE ratio of 35.40, a P/E/G ratio of 2.08 and a beta of 1.89.

Freeport-McMoRan (NYSE:FCXGet Free Report) last posted its earnings results 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 analyst estimates of $6 billion. Freeport-McMoRan had a return on equity of 7.60% and a net margin of 7.83%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Monday, July 15th. Freeport-McMoRan’s payout ratio is 26.55%.

Freeport-McMoRan Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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