Venture Visionary Partners LLC Has $626,000 Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Venture Visionary Partners LLC increased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,542 shares of the natural resource company’s stock after purchasing an additional 519 shares during the period. Venture Visionary Partners LLC’s holdings in Freeport-McMoRan were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise raised its position in Freeport-McMoRan by 74.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 1,740 shares of the natural resource company’s stock valued at $82,000 after buying an additional 740 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Freeport-McMoRan by 13.6% in the first quarter. Sunbelt Securities Inc. now owns 11,139 shares of the natural resource company’s stock valued at $524,000 after purchasing an additional 1,333 shares during the last quarter. Brookstone Capital Management lifted its position in shares of Freeport-McMoRan by 12.0% in the first quarter. Brookstone Capital Management now owns 8,217 shares of the natural resource company’s stock worth $386,000 after purchasing an additional 883 shares in the last quarter. GoalVest Advisory LLC boosted its holdings in Freeport-McMoRan by 57,547.9% during the first quarter. GoalVest Advisory LLC now owns 27,671 shares of the natural resource company’s stock worth $1,301,000 after purchasing an additional 27,623 shares during the last quarter. Finally, S.A. Mason LLC grew its position in Freeport-McMoRan by 45.2% in the first quarter. S.A. Mason LLC now owns 3,078 shares of the natural resource company’s stock valued at $145,000 after purchasing an additional 958 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 1.2 %

Shares of FCX stock opened at $48.53 on Wednesday. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month high of $55.24. The company 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. The firm has a 50 day moving average price of $45.61 and a two-hundred day moving average price of $47.86. The company has a quick ratio of 1.34, a current ratio of 2.40 and a debt-to-equity ratio of 0.30.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. Freeport-McMoRan had a return on equity of 7.60% and a net margin of 7.83%. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the previous year, the company posted $0.39 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, analysts predict that Freeport-McMoRan Inc. will post 1.58 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Tuesday, October 15th. Freeport-McMoRan’s dividend payout ratio is 26.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. UBS Group raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and increased their price target for the company from $54.00 to $55.00 in a research report on Wednesday, September 4th. Raymond James upped their price objective on Freeport-McMoRan from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Morgan Stanley cut their price objective on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, September 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $60.00 target price on shares of Freeport-McMoRan in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.92.

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.