Blue Trust Inc. Has $462,000 Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Blue Trust Inc. raised its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 185.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,513 shares of the natural resource company’s stock after buying an additional 6,177 shares during the quarter. Blue Trust Inc.’s holdings in Freeport-McMoRan were worth $462,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of FCX. Banque Cantonale Vaudoise increased its stake in Freeport-McMoRan by 74.0% in the first quarter. Banque Cantonale Vaudoise now owns 1,740 shares of the natural resource company’s stock valued at $82,000 after purchasing an additional 740 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of Freeport-McMoRan by 13.6% in the 1st quarter. Sunbelt Securities Inc. now owns 11,139 shares of the natural resource company’s stock valued at $524,000 after buying an additional 1,333 shares in the last quarter. Brookstone Capital Management raised its stake in Freeport-McMoRan by 12.0% during the 1st quarter. Brookstone Capital Management now owns 8,217 shares of the natural resource company’s stock worth $386,000 after buying an additional 883 shares during the period. GoalVest Advisory LLC raised its stake in Freeport-McMoRan by 57,547.9% during the 1st quarter. GoalVest Advisory LLC now owns 27,671 shares of the natural resource company’s stock worth $1,301,000 after buying an additional 27,623 shares during the period. Finally, S.A. Mason LLC lifted its holdings in Freeport-McMoRan by 45.2% during the first quarter. S.A. Mason LLC now owns 3,078 shares of the natural resource company’s stock worth $145,000 after acquiring an additional 958 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Trading Up 1.2 %

Shares of NYSE:FCX opened at $48.53 on Wednesday. The company’s 50-day moving average price is $45.61 and its two-hundred day moving average price is $47.86. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $55.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.40 and a quick ratio of 1.34. The stock has a market capitalization of $69.71 billion, a PE ratio of 42.95, a price-to-earnings-growth ratio of 2.03 and a beta of 1.90.

Freeport-McMoRan (NYSE:FCX) last released its earnings results 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. The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. Freeport-McMoRan had a return on equity of 7.60% and a net margin of 7.83%. Freeport-McMoRan’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, equities analysts forecast that Freeport-McMoRan Inc. will post 1.58 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Tuesday, October 15th. Freeport-McMoRan’s payout ratio is presently 26.55%.

Analysts Set New Price Targets

FCX has been the subject of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $60.00 price target on shares of Freeport-McMoRan in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Scotiabank lifted their price target on shares of Freeport-McMoRan from $52.00 to $53.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 8th. Morgan Stanley lowered their price objective on shares of Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, September 19th. Finally, Raymond James boosted their price objective on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.92.

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.