Michael S. Ryan Inc. Has $387,000 Holdings in Freeport-McMoRan Inc. $FCX

Michael S. Ryan Inc. raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 11.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,929 shares of the natural resource company’s stock after buying an additional 907 shares during the quarter. Michael S. Ryan Inc.’s holdings in Freeport-McMoRan were worth $387,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. City Holding Co. bought a new stake in Freeport-McMoRan in the 1st quarter valued at $33,000. Bernard Wealth Management Corp. bought a new stake in Freeport-McMoRan in the 4th quarter valued at $35,000. Dagco Inc. bought a new stake in Freeport-McMoRan in the 1st quarter valued at $37,000. CKW Financial Group bought a new stake in Freeport-McMoRan in the 1st quarter valued at $40,000. Finally, Greykasell Wealth Strategies Inc. bought a new stake in Freeport-McMoRan in the 1st quarter valued at $42,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 2.6%

FCX opened at $44.72 on Friday. The firm’s 50-day simple moving average is $43.66 and its 200-day simple moving average is $40.12. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.21 and a current ratio of 2.47. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $52.61. The firm has a market cap of $64.21 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 0.87 and a beta of 1.59.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The firm had revenue of $7.58 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue was up 14.5% on a year-over-year basis. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.3%. Freeport-McMoRan’s dividend payout ratio is currently 22.73%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FCX shares. Bank of America reissued a “neutral” rating and issued a $56.00 price target on shares of Freeport-McMoRan in a report on Wednesday, July 9th. BMO Capital Markets lowered their price target on shares of Freeport-McMoRan from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, July 24th. Citigroup boosted their price target on shares of Freeport-McMoRan from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Morgan Stanley lowered shares of Freeport-McMoRan from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $45.00 to $54.00 in a report on Tuesday, July 15th. Finally, Wall Street Zen raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus target price of $51.00.

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.