Cypress Wealth Services LLC Grows Stock Position in Freeport-McMoRan Inc. $FCX

Cypress Wealth Services LLC boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,230 shares of the natural resource company’s stock after buying an additional 273 shares during the period. Cypress Wealth Services LLC’s holdings in Freeport-McMoRan were worth $270,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FCX. Brighton Jones LLC raised its holdings in Freeport-McMoRan by 24.2% during the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after buying an additional 2,882 shares during the period. Bison Wealth LLC grew its position in Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after acquiring an additional 507 shares during the last quarter. GAMMA Investing LLC grew its position in Freeport-McMoRan by 5.6% in the 1st quarter. GAMMA Investing LLC now owns 22,805 shares of the natural resource company’s stock valued at $863,000 after acquiring an additional 1,219 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in Freeport-McMoRan by 4.7% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 25,197 shares of the natural resource company’s stock valued at $954,000 after acquiring an additional 1,137 shares during the last quarter. Finally, Ritholtz Wealth Management grew its position in Freeport-McMoRan by 5.8% in the 1st quarter. Ritholtz Wealth Management now owns 18,995 shares of the natural resource company’s stock valued at $719,000 after acquiring an additional 1,041 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on FCX shares. Hsbc Global Res downgraded Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 22nd. Raymond James Financial cut their price objective on Freeport-McMoRan from $55.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. Stifel Canada raised Freeport-McMoRan to a “strong-buy” rating in a research report on Tuesday, July 8th. Morgan Stanley cut their price objective on Freeport-McMoRan from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus began coverage on Freeport-McMoRan in a research report on Wednesday, July 9th. They set a “buy” rating and a $56.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.56.

Freeport-McMoRan Price Performance

FCX opened at $42.01 on Wednesday. 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. The business’s fifty day simple moving average is $42.59 and its 200-day simple moving average is $40.59. The company has a market capitalization of $60.31 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 0.98 and a beta of 1.58.

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

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 22.73%.

Freeport-McMoRan 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.