Public Employees Retirement Association of Colorado Sells 3,946 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Public Employees Retirement Association of Colorado trimmed its position in Freeport-McMoRan Inc. (NYSE:FCX) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 199,721 shares of the natural resource company’s stock after selling 3,946 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Freeport-McMoRan were worth $9,706,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. boosted its holdings in Freeport-McMoRan by 1,170.7% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 521 shares of the natural resource company’s stock valued at $25,000 after purchasing an additional 480 shares during the period. Spectrum Wealth Counsel LLC bought a new stake in shares of Freeport-McMoRan during the 2nd quarter worth $25,000. LRI Investments LLC bought a new stake in shares of Freeport-McMoRan during the 1st quarter worth $26,000. Lynx Investment Advisory bought a new stake in shares of Freeport-McMoRan during the 2nd quarter worth $26,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Freeport-McMoRan by 422.2% during the 4th quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock worth $28,000 after acquiring an additional 532 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Trading Down 1.4 %

Shares of FCX opened at $44.53 on Friday. The firm’s 50-day moving average price is $43.55 and its 200-day moving average price is $47.16. The firm has a market capitalization of $63.97 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 1.94 and a beta of 1.89. The company has a current ratio of 2.40, a quick ratio of 1.34 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a 1-year low of $32.83 and a 1-year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, July 23rd. The natural resource company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.39 by $0.07. Freeport-McMoRan had a net margin of 7.83% and a return on equity of 7.60%. The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6 billion. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Freeport-McMoRan’s quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Monday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analyst Weigh In

FCX has been the subject of a number of research analyst reports. BNP Paribas raised shares of Freeport-McMoRan to a “strong-buy” rating in a report on Friday, June 21st. UBS Group raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $54.00 to $55.00 in a report on Wednesday, September 4th. Morgan Stanley dropped their price objective on shares of Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday. Raymond James dropped their price objective on shares of Freeport-McMoRan from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.79.

Freeport-McMoRan 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.