Adams Natural Resources Fund Inc. Sells 221,600 Shares of Freeport-McMoRan Inc (FCX)

Adams Natural Resources Fund Inc. lessened its holdings in Freeport-McMoRan Inc (NYSE:FCX) by 55.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 177,100 shares of the natural resource company’s stock after selling 221,600 shares during the period. Adams Natural Resources Fund Inc.’s holdings in Freeport-McMoRan were worth $2,465,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FCX. Atlantic Trust Group LLC lifted its stake in shares of Freeport-McMoRan by 23.4% in the 1st quarter. Atlantic Trust Group LLC now owns 23,608 shares of the natural resource company’s stock worth $415,000 after purchasing an additional 4,477 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of Freeport-McMoRan by 18.6% in the 1st quarter. Summit Trail Advisors LLC now owns 70,498 shares of the natural resource company’s stock worth $707,000 after purchasing an additional 11,065 shares during the period. Suntrust Banks Inc. lifted its stake in shares of Freeport-McMoRan by 52.5% in the 1st quarter. Suntrust Banks Inc. now owns 72,060 shares of the natural resource company’s stock worth $1,264,000 after purchasing an additional 24,795 shares during the period. Cito Capital Group LLC lifted its stake in shares of Freeport-McMoRan by 120.0% in the 2nd quarter. Cito Capital Group LLC now owns 33,000 shares of the natural resource company’s stock worth $570,000 after purchasing an additional 18,000 shares during the period. Finally, Private Trust Co. NA bought a new position in shares of Freeport-McMoRan in the 2nd quarter worth approximately $172,000. Hedge funds and other institutional investors own 71.83% of the company’s stock.

Shares of FCX opened at $11.09 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 2.84 and a debt-to-equity ratio of 0.83. Freeport-McMoRan Inc has a 1 year low of $10.59 and a 1 year high of $20.25. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 9.48 and a beta of 2.48.



Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Wednesday, October 24th. The natural resource company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Freeport-McMoRan had a net margin of 15.80% and a return on equity of 22.63%. The business had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same period last year, the firm posted $0.34 EPS. The company’s revenue was up 13.9% on a year-over-year basis. Analysts forecast that Freeport-McMoRan Inc will post 1.66 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Monday, October 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, October 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 17.09%.

A number of equities research analysts have commented on the stock. B. Riley decreased their target price on shares of Freeport-McMoRan from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 19th. Jefferies Financial Group restated a “buy” rating and set a $24.00 target price on shares of Freeport-McMoRan in a research note on Thursday, July 26th. Deutsche Bank upgraded shares of Freeport-McMoRan from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Raymond James set a $16.00 target price on shares of Freeport-McMoRan and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Finally, BMO Capital Markets set a $13.00 target price on shares of Freeport-McMoRan and gave the stock a “hold” rating in a research note on Thursday, October 25th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $17.18.

About Freeport-McMoRan

Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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