Atlas Capital Advisors LLC Has $568,000 Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Atlas Capital Advisors LLC decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 15.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,682 shares of the natural resource company’s stock after selling 2,153 shares during the period. Atlas Capital Advisors LLC’s holdings in Freeport-McMoRan were worth $568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 buying an additional 1,210,833 shares during the last quarter. Capital Research Global Investors raised its position in Freeport-McMoRan by 22.0% in the first quarter. Capital Research Global Investors now owns 72,896,288 shares of the natural resource company’s stock worth $3,427,583,000 after purchasing an additional 13,143,562 shares in the last quarter. Fisher Asset Management LLC raised its position in Freeport-McMoRan by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 55,710,695 shares of the natural resource company’s stock worth $2,371,604,000 after purchasing an additional 1,030,451 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Freeport-McMoRan by 6.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,882,874 shares of the natural resource company’s stock worth $1,734,234,000 after purchasing an additional 2,392,800 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Freeport-McMoRan by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 21,157,118 shares of the natural resource company’s stock worth $994,808,000 after purchasing an additional 1,551,828 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on FCX. Raymond James decreased their price objective on shares of Freeport-McMoRan from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Scotiabank decreased their price objective on shares of Freeport-McMoRan from $58.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 19th. Morgan Stanley raised shares of Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $49.50 to $62.00 in a research note on Friday, June 21st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Freeport-McMoRan from $48.00 to $51.00 and gave the stock a “hold” rating in a research note on Monday, June 10th. Finally, UBS Group increased their price target on shares of Freeport-McMoRan from $41.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average target price of $53.00.

Freeport-McMoRan Stock Up 1.0 %

Shares of Freeport-McMoRan stock opened at $44.25 on Friday. The business’s 50 day simple moving average is $45.92 and its 200 day simple moving average is $46.66. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $55.24. The firm has a market cap of $63.56 billion, a PE ratio of 39.16, a P/E/G ratio of 2.07 and a beta of 1.92. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.34 and a current ratio of 2.40.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Tuesday, July 23rd. The natural resource company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. Freeport-McMoRan had a return on equity of 7.60% and a net margin of 7.83%. The firm had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6 billion. During the same period last year, the company earned $0.35 earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. On average, analysts predict that Freeport-McMoRan Inc. will post 1.67 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 15th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, July 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.36%. Freeport-McMoRan’s dividend payout ratio is currently 26.55%.

About Freeport-McMoRan

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.