4,834 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Acquired by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,834 shares of the natural resource company’s stock, valued at approximately $241,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Deane Retirement Strategies Inc. lifted its holdings in shares of Freeport-McMoRan by 0.4% in the third quarter. Deane Retirement Strategies Inc. now owns 47,144 shares of the natural resource company’s stock valued at $2,357,000 after purchasing an additional 201 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in Freeport-McMoRan by 4.3% in the 1st quarter. Kingsview Wealth Management LLC now owns 5,243 shares of the natural resource company’s stock worth $247,000 after acquiring an additional 214 shares in the last quarter. Koshinski Asset Management Inc. boosted its position in Freeport-McMoRan by 1.0% during the 3rd quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock worth $1,037,000 after acquiring an additional 214 shares during the period. Trust Co. of Vermont grew its stake in Freeport-McMoRan by 5.2% during the 3rd quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company’s stock valued at $228,000 after acquiring an additional 228 shares in the last quarter. Finally, Fidelis Capital Partners LLC increased its holdings in shares of Freeport-McMoRan by 2.0% in the 3rd quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock valued at $560,000 after purchasing an additional 231 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Down 1.3 %

Freeport-McMoRan stock opened at $42.70 on Monday. The business has a 50 day moving average price of $46.63 and a two-hundred day moving average price of $47.33. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12 month low of $35.29 and a 12 month high of $55.24. The stock has a market cap of $61.35 billion, a price-to-earnings ratio of 31.17, a price-to-earnings-growth ratio of 1.84 and a beta of 1.91.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.45 billion. During the same period in the prior year, the company posted $0.39 earnings per share. Freeport-McMoRan’s revenue was up 16.6% on a year-over-year basis. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 1.51 EPS for the current year.

Freeport-McMoRan Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th were given a dividend of $0.075 per share. The ex-dividend date was Tuesday, October 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.70%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 21.90%.

Analysts Set New Price Targets

FCX has been the topic of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, September 19th. StockNews.com downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Raymond James lifted their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $60.00 price target on shares of Freeport-McMoRan in a research note on Wednesday, July 24th. Six research 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.