Stokes Family Office LLC Raises Position in Freeport-McMoRan Inc. $FCX

Stokes Family Office LLC raised its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 20.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 17,081 shares of the natural resource company’s stock after acquiring an additional 2,907 shares during the period. Stokes Family Office LLC’s holdings in Freeport-McMoRan were worth $740,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Strengthening Families & Communities LLC boosted its holdings in Freeport-McMoRan by 0.6% during the 2nd quarter. Strengthening Families & Communities LLC now owns 42,617 shares of the natural resource company’s stock valued at $1,822,000 after acquiring an additional 261 shares during the period. CVA Family Office LLC grew its holdings in Freeport-McMoRan by 21.3% in the 2nd quarter. CVA Family Office LLC now owns 1,527 shares of the natural resource company’s stock worth $66,000 after acquiring an additional 268 shares during the last quarter. Cypress Wealth Services LLC raised its stake in shares of Freeport-McMoRan by 4.6% during the second quarter. Cypress Wealth Services LLC now owns 6,230 shares of the natural resource company’s stock valued at $270,000 after acquiring an additional 273 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Freeport-McMoRan by 0.4% during the first quarter. Kestra Private Wealth Services LLC now owns 62,015 shares of the natural resource company’s stock worth $2,348,000 after purchasing an additional 275 shares during the period. Finally, Princeton Capital Management LLC grew its stake in shares of Freeport-McMoRan by 1.1% in the first quarter. Princeton Capital Management LLC now owns 25,980 shares of the natural resource company’s stock worth $984,000 after purchasing an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

FCX has been the subject of several research analyst reports. UBS Group set a $48.00 price objective on Freeport-McMoRan and gave the stock a “buy” rating in a report on Friday, October 3rd. Wall Street Zen raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Johnson Rice decreased their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 in a report on Monday, September 29th. Hsbc Global Res raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $46.00 price target on shares of Freeport-McMoRan in a research note on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.01.

Freeport-McMoRan Stock Up 2.9%

NYSE:FCX opened at $39.78 on Friday. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $49.12. The company has a market capitalization of $57.12 billion, a PE ratio of 28.02, a P/E/G ratio of 0.94 and a beta of 1.64. The firm’s 50-day moving average price is $42.09 and its 200-day moving average price is $41.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.45 and a quick ratio of 1.19.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, October 23rd. The natural resource company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%. The business had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.74 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Freeport-McMoRan’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Wednesday, October 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 21.13%.

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.