Freeport-McMoRan Inc. $FCX Holdings Lowered by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV decreased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 26.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,640 shares of the natural resource company’s stock after selling 16,798 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Freeport-McMoRan were worth $2,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of FCX. Strategic Investment Solutions Inc. IL acquired a new stake in Freeport-McMoRan during the 4th quarter worth about $25,000. Kemnay Advisory Services Inc. acquired a new position in shares of Freeport-McMoRan in the fourth quarter worth about $29,000. SHP Wealth Management purchased a new position in shares of Freeport-McMoRan in the fourth quarter worth approximately $30,000. MV Capital Management Inc. acquired a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $34,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FCX shares. HSBC upped their price target on shares of Freeport-McMoRan from $72.00 to $75.00 in a research report on Friday, June 12th. Raymond James Financial cut their target price on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. CICC Research reduced their target price on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a report on Tuesday, April 28th. JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Finally, Bank of America lifted their price target on Freeport-McMoRan from $68.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.81.

Freeport-McMoRan Stock Up 0.2%

FCX opened at $68.80 on Monday. The company has a market capitalization of $98.90 billion, a PE ratio of 36.60, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. Freeport-McMoRan Inc. has a fifty-two week low of $35.15 and a fifty-two week high of $72.28. The business has a 50-day moving average of $64.98 and a 200-day moving average of $60.13.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the previous year, the business posted $0.24 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities research analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were paid a $0.075 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan’s payout ratio is 15.96%.

About Freeport-McMoRan

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.