Intellectus Partners LLC Has $3.58 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Intellectus Partners LLC lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,758 shares of the natural resource company’s stock after acquiring an additional 256 shares during the quarter. Freeport-McMoRan makes up about 0.9% of Intellectus Partners LLC’s portfolio, making the stock its 21st biggest holding. Intellectus Partners LLC’s holdings in Freeport-McMoRan were worth $3,582,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Easterly Investment Partners LLC boosted its holdings in shares of Freeport-McMoRan by 137.5% during the third quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company’s stock worth $7,375,000 after acquiring an additional 85,542 shares during the period. Summit Global Investments boosted its stake in Freeport-McMoRan by 1,559.3% in the 3rd quarter. Summit Global Investments now owns 76,493 shares of the natural resource company’s stock valued at $3,819,000 after purchasing an additional 71,883 shares during the period. AIA Group Ltd grew its holdings in Freeport-McMoRan by 16.2% in the 3rd quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company’s stock valued at $4,604,000 after buying an additional 12,887 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of Freeport-McMoRan by 33.3% during the third quarter. NorthCrest Asset Manangement LLC now owns 432,126 shares of the natural resource company’s stock worth $21,572,000 after buying an additional 107,852 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Freeport-McMoRan by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 202,440 shares of the natural resource company’s stock valued at $10,393,000 after acquiring an additional 35,972 shares during the period. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 0.3 %

Shares of Freeport-McMoRan stock opened at $43.26 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. Freeport-McMoRan Inc. has a 1 year low of $35.29 and a 1 year high of $55.24. The firm has a market cap of $62.16 billion, a PE ratio of 31.58, a PEG ratio of 1.86 and a beta of 1.91. The company has a 50 day simple moving average of $46.58 and a two-hundred day simple moving average of $47.43.

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

Freeport-McMoRan Cuts Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on FCX shares. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $60.00 price target on shares of Freeport-McMoRan in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective 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 cut their target price on Freeport-McMoRan from $53.00 to $52.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. Finally, Raymond James increased their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Freeport-McMoRan currently has a consensus 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.