Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. lessened its position in Freeport-McMoRan Inc. (NYSE:FCX) by 39.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 69,634 shares of the natural resource company’s stock after selling 45,789 shares during the period. Hantz Financial Services Inc.’s holdings in Freeport-McMoRan were worth $3,476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FCX. Easterly Investment Partners LLC lifted its holdings in shares of Freeport-McMoRan by 137.5% in the 3rd quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company’s stock valued at $7,375,000 after buying an additional 85,542 shares during the period. Summit Global Investments lifted its holdings in Freeport-McMoRan by 1,559.3% in the third quarter. Summit Global Investments now owns 76,493 shares of the natural resource company’s stock valued at $3,819,000 after acquiring an additional 71,883 shares during the period. AIA Group Ltd boosted its position in shares of Freeport-McMoRan by 16.2% during the 3rd quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company’s stock worth $4,604,000 after purchasing an additional 12,887 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of Freeport-McMoRan by 33.3% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 432,126 shares of the natural resource company’s stock worth $21,572,000 after purchasing an additional 107,852 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Freeport-McMoRan by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 202,440 shares of the natural resource company’s stock valued at $10,393,000 after purchasing an additional 35,972 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $44.20 on Friday. Freeport-McMoRan Inc. has a 1 year low of $36.04 and a 1 year high of $55.24. The company’s 50 day simple moving average is $46.87 and its 200 day simple moving average is $46.89. The company has a market capitalization of $63.51 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 17.26 and a beta of 1.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter last year, the firm earned $0.39 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. On average, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.5 EPS for the current year.

Freeport-McMoRan Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.68%. Freeport-McMoRan’s payout ratio is currently 21.90%.

Wall Street Analysts Forecast Growth

FCX has been the topic of several recent analyst reports. StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Scotiabank lowered their price target on Freeport-McMoRan from $53.00 to $52.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. Raymond James lifted their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Morgan Stanley lowered their target price on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, September 19th. Finally, UBS Group upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and raised their price target for the company from $54.00 to $55.00 in a research report on Wednesday, September 4th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average price target of $54.00.

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.