Capitolis Liquid Global Markets LLC Acquires New Holdings in Freeport-McMoRan Inc. $FCX

Capitolis Liquid Global Markets LLC acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 540,590 shares of the natural resource company’s stock, valued at approximately $27,457,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new position in Freeport-McMoRan in the 4th quarter valued at approximately $29,000. JPL Wealth Management LLC bought a new position in Freeport-McMoRan in the 3rd quarter valued at approximately $33,000. Kohmann Bosshard Financial Services LLC bought a new position in Freeport-McMoRan in the 4th quarter valued at approximately $38,000. Modus Advisors LLC bought a new position in Freeport-McMoRan in the 4th quarter valued at approximately $40,000. Finally, Key Financial Inc lifted its stake in Freeport-McMoRan by 32.3% in the 4th quarter. Key Financial Inc now owns 828 shares of the natural resource company’s stock valued at $42,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 1.7%

Shares of NYSE FCX opened at $68.95 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $72.28. The firm has a 50 day moving average price of $64.74 and a two-hundred day moving average price of $59.77. The stock has a market cap of $99.12 billion, a P/E ratio of 36.67, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the prior year, the company posted $0.24 EPS. The company’s revenue was up 8.8% on a year-over-year basis. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 2.51 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.4%. Freeport-McMoRan’s dividend payout ratio is 15.96%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FCX shares. CICC Research dropped their price objective on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a research note on Tuesday, April 28th. Wall Street Zen raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Sanford C. Bernstein upped their price target on shares of Freeport-McMoRan from $53.50 to $58.50 and gave the company a “market perform” rating in a research report on Wednesday, June 10th. Citigroup decreased their price target on shares of Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Wells Fargo & Company decreased their price target on shares of Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.31.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.