Universal Beteiligungs und Servicegesellschaft mbH Boosts Holdings in Freeport-McMoRan Inc. $FCX

Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 981,360 shares of the natural resource company’s stock after acquiring an additional 38,224 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.07% of Freeport-McMoRan worth $42,542,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Beacon Capital Management LLC increased its position in shares of Freeport-McMoRan by 59.6% during the second quarter. Beacon Capital Management LLC now owns 876 shares of the natural resource company’s stock worth $38,000 after purchasing an additional 327 shares in the last quarter. Dagco Inc. purchased a new position in Freeport-McMoRan during the 1st quarter worth approximately $37,000. MTM Investment Management LLC purchased a new position in Freeport-McMoRan during the 2nd quarter worth approximately $43,000. Hilltop National Bank acquired a new position in Freeport-McMoRan during the second quarter worth approximately $43,000. Finally, NewSquare Capital LLC lifted its stake in Freeport-McMoRan by 74.9% in the second quarter. NewSquare Capital LLC now owns 1,002 shares of the natural resource company’s stock valued at $43,000 after buying an additional 429 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 2.8%

FCX stock opened at $39.02 on Tuesday. The stock has a market capitalization of $56.03 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 0.94 and a beta of 1.64. The company has a fifty day moving average of $41.47 and a 200-day moving average of $41.82. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 2.45. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $49.12.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The business had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.74 billion. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 earnings per share. As a group, analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, October 15th. This represents a $0.60 annualized dividend and a yield of 1.5%. Freeport-McMoRan’s payout ratio is presently 21.13%.

Wall Street Analyst Weigh In

FCX has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Freeport-McMoRan from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. Royal Bank Of Canada lowered their price objective on shares of Freeport-McMoRan from $54.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 1st. Raymond James Financial dropped their price objective on shares of Freeport-McMoRan from $55.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Tuesday, September 30th. Finally, Scotiabank raised their price target on Freeport-McMoRan from $49.00 to $51.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 28th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.01.

Freeport-McMoRan Company 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.