Vanguard Personalized Indexing Management LLC Has $6.47 Million Stock Position in Freeport-McMoRan Inc. $FCX

Vanguard Personalized Indexing Management LLC increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 22.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 149,162 shares of the natural resource company’s stock after purchasing an additional 27,570 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Freeport-McMoRan were worth $6,466,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FCX. Nuveen LLC acquired a new stake in Freeport-McMoRan during the first quarter worth approximately $366,959,000. Amundi grew its stake in Freeport-McMoRan by 28.1% during the first quarter. Amundi now owns 27,635,497 shares of the natural resource company’s stock worth $1,046,280,000 after purchasing an additional 6,054,537 shares during the period. Crake Asset Management LLP grew its stake in Freeport-McMoRan by 2,140.8% during the first quarter. Crake Asset Management LLP now owns 5,929,623 shares of the natural resource company’s stock worth $224,496,000 after purchasing an additional 5,665,000 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Freeport-McMoRan by 17.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 37,547,489 shares of the natural resource company’s stock worth $1,421,549,000 after acquiring an additional 5,661,958 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Freeport-McMoRan by 13.7% in the first quarter. Bank of New York Mellon Corp now owns 21,942,063 shares of the natural resource company’s stock worth $830,726,000 after acquiring an additional 2,642,810 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

FCX has been the topic of several recent research reports. Hsbc Global Res lowered Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 22nd. Raymond James Financial cut their price target on Freeport-McMoRan from $55.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Citigroup upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, October 8th. BNP Paribas Exane dropped their target price on Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Finally, Morgan Stanley dropped their target price on Freeport-McMoRan from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.56.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $42.74 on Tuesday. The business’s fifty day simple moving average is $42.55 and its 200 day simple moving average is $40.58. The firm has a market capitalization of $61.36 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 0.93 and a beta of 1.58. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $50.12. The company has a current ratio of 2.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results 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. The business had revenue of $7.58 billion for the quarter, compared to analyst estimates of $6.85 billion. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.Freeport-McMoRan’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share. As a group, analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. 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.