Comprehensive Money Management Services LLC Sells 1,125 Shares of Freeport-McMoRan Inc. $FCX

Comprehensive Money Management Services LLC lowered its position in Freeport-McMoRan Inc. (NYSE:FCX) by 11.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,916 shares of the natural resource company’s stock after selling 1,125 shares during the period. Comprehensive Money Management Services LLC’s holdings in Freeport-McMoRan were worth $387,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Dagco Inc. bought a new stake in shares of Freeport-McMoRan in the 1st quarter valued at $37,000. Beacon Capital Management LLC increased its holdings in Freeport-McMoRan by 59.6% during the 2nd quarter. Beacon Capital Management LLC now owns 876 shares of the natural resource company’s stock worth $38,000 after purchasing an additional 327 shares in the last quarter. CKW Financial Group bought a new position in Freeport-McMoRan during the 1st quarter worth about $40,000. Greykasell Wealth Strategies Inc. bought a new position in Freeport-McMoRan during the 1st quarter worth about $42,000. Finally, Hilltop National Bank bought a new position in Freeport-McMoRan during the 2nd quarter worth about $43,000. Institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Wells Fargo & Company upgraded Freeport-McMoRan to a “strong-buy” rating in a report on Wednesday. UBS Group set a $48.00 target price on Freeport-McMoRan and gave the stock a “buy” rating in a report on Friday, October 3rd. Jefferies Financial Group reiterated a “buy” rating and set a $46.00 target price on shares of Freeport-McMoRan in a report on Wednesday, September 24th. Finally, BNP Paribas Exane lowered their target price on Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average target price of $46.56.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $40.92 on Friday. The stock has a market capitalization of $58.74 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 0.97 and a beta of 1.58. The business has a 50-day moving average of $42.51 and a 200-day moving average of $40.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $50.28.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.09. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The business had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $6.85 billion. During the same period last year, the business posted $0.46 EPS. Freeport-McMoRan’s revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.5%. The ex-dividend date is Wednesday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 22.73%.

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.