Caprock Group LLC Sells 2,395 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Caprock Group LLC trimmed its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 9.4% during the 3rd quarter, Holdings Channel reports. The firm owned 23,132 shares of the natural resource company’s stock after selling 2,395 shares during the quarter. Caprock Group LLC’s holdings in Freeport-McMoRan were worth $1,155,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Deane Retirement Strategies Inc. lifted its holdings in shares of Freeport-McMoRan by 0.4% during the 3rd quarter. Deane Retirement Strategies Inc. now owns 47,144 shares of the natural resource company’s stock worth $2,357,000 after acquiring an additional 201 shares during the last quarter. Koshinski Asset Management Inc. lifted its position in Freeport-McMoRan by 1.0% in the 3rd quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock worth $1,037,000 after buying an additional 214 shares during the last quarter. Trust Co. of Vermont boosted its stake in Freeport-McMoRan by 5.2% in the third quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company’s stock worth $228,000 after buying an additional 228 shares in the last quarter. Fidelis Capital Partners LLC grew its position in Freeport-McMoRan by 2.0% during the third quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock valued at $560,000 after acquiring an additional 231 shares during the last quarter. Finally, Pure Financial Advisors LLC raised its stake in shares of Freeport-McMoRan by 4.4% during the second quarter. Pure Financial Advisors LLC now owns 5,587 shares of the natural resource company’s stock worth $272,000 after acquiring an additional 235 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Up 0.0 %

FCX opened at $43.72 on Friday. 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 52 week low of $36.04 and a 52 week high of $55.24. The stock has a market cap of $62.82 billion, a PE ratio of 31.91, a PEG ratio of 1.90 and a beta of 1.91. The business has a 50 day moving average of $46.85 and a 200-day moving average of $47.20.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the prior year, the firm earned $0.39 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. Equities research analysts predict that Freeport-McMoRan Inc. will post 1.51 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th were given a $0.075 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.69%. Freeport-McMoRan’s dividend payout ratio is currently 21.90%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FCX shares. Morgan Stanley decreased their target price 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 cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Scotiabank dropped their price objective on Freeport-McMoRan from $53.00 to $52.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 23rd. Raymond James lifted their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target 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.