Pure Financial Advisors LLC Has $272,000 Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Pure Financial Advisors LLC grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 4.4% during the second quarter, Holdings Channel reports. The firm owned 5,587 shares of the natural resource company’s stock after acquiring an additional 235 shares during the quarter. Pure Financial Advisors LLC’s holdings in Freeport-McMoRan were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FCX. LRI Investments LLC acquired a new position in shares of Freeport-McMoRan in the 1st quarter valued at about $26,000. Lynx Investment Advisory acquired a new position in shares of Freeport-McMoRan in the 2nd quarter valued at about $26,000. Jones Financial Companies Lllp lifted its stake in shares of Freeport-McMoRan by 422.2% in the 4th quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 532 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth approximately $32,000. Finally, Versant Capital Management Inc raised its stake in Freeport-McMoRan by 209.9% during the 2nd quarter. Versant Capital Management Inc now owns 657 shares of the natural resource company’s stock worth $32,000 after buying an additional 445 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FCX. Scotiabank dropped their price target on Freeport-McMoRan from $60.00 to $58.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, July 24th. Bernstein Bank upped their price target on Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Morgan Stanley raised Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $49.50 to $62.00 in a research note on Friday, June 21st. HSBC upped their price target on Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Finally, UBS Group upped their price target on Freeport-McMoRan from $41.00 to $54.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Five 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, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average target price of $53.07.

Freeport-McMoRan Stock Performance

Shares of FCX stock traded down $0.14 during trading on Friday, hitting $43.44. The company’s stock had a trading volume of 8,973,128 shares, compared to its average volume of 13,569,124. The company has a market cap of $62.40 billion, a PE ratio of 38.44, a P/E/G ratio of 2.07 and a beta of 1.92. 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 business has a fifty day moving average of $46.80 and a 200-day moving average of $46.31. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Tuesday, July 23rd. The natural resource company reported $0.46 earnings per share (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%. Freeport-McMoRan’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 1.67 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.38%. The ex-dividend date was Monday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 26.55%.

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.