DJE Kapital AG Has $3.85 Million Stake in Freeport-McMoRan Inc. $FCX

DJE Kapital AG trimmed its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 53.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,677 shares of the natural resource company’s stock after selling 77,900 shares during the period. DJE Kapital AG’s holdings in Freeport-McMoRan were worth $3,847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of Freeport-McMoRan by 24.2% during the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after buying an additional 2,882 shares during the period. Bison Wealth LLC raised its holdings in Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after acquiring an additional 507 shares during the period. Sivia Capital Partners LLC acquired a new position in Freeport-McMoRan during the 2nd quarter worth $560,000. Brown Advisory Inc. lifted its position in Freeport-McMoRan by 27.0% during the 2nd quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after acquiring an additional 2,648 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in Freeport-McMoRan by 42.7% during the second quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock valued at $2,172,000 after acquiring an additional 14,992 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. HSBC raised their price target on Freeport-McMoRan from $72.00 to $75.00 in a research report on Friday, June 12th. Barclays increased their target price on Freeport-McMoRan from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Freeport-McMoRan in a report on Friday, May 15th. The Goldman Sachs Group dropped their price target on Freeport-McMoRan from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Finally, UBS Group upped their price target on Freeport-McMoRan from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average price target of $68.77.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $58.81 on Tuesday. The firm has a market capitalization of $84.55 billion, a PE ratio of 31.28, a PEG ratio of 0.58 and a beta of 1.37. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $72.28. The business’s 50 day moving average is $63.76 and its 200-day moving average is $62.06.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.Freeport-McMoRan’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. Sell-side analysts predict that Freeport-McMoRan Inc. will post 2.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan’s payout ratio is 15.96%.

Freeport-McMoRan Company Profile

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.