Arkadios Wealth Advisors Buys 1,811 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Arkadios Wealth Advisors boosted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,135 shares of the natural resource company’s stock after purchasing an additional 1,811 shares during the quarter. Arkadios Wealth Advisors’ holdings in Freeport-McMoRan were worth $1,804,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FCX. 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. Wealthcare Advisory Partners LLC lifted its holdings in shares of Freeport-McMoRan by 57.8% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 9,709 shares of the natural resource company’s stock worth $457,000 after purchasing an additional 3,557 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Freeport-McMoRan by 3.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 157,645 shares of the natural resource company’s stock valued at $7,412,000 after purchasing an additional 4,547 shares during the period. Founders Financial Securities LLC increased its stake in Freeport-McMoRan by 8.9% during the 1st quarter. Founders Financial Securities LLC now owns 18,713 shares of the natural resource company’s stock valued at $880,000 after purchasing an additional 1,527 shares in the last quarter. Finally, Trilogy Capital Inc. acquired a new position in Freeport-McMoRan during the first quarter worth $1,239,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 0.5 %

Shares of Freeport-McMoRan stock opened at $46.60 on Friday. The firm has a market cap of $66.96 billion, a PE ratio of 34.01, a P/E/G ratio of 1.99 and a beta of 1.90. Freeport-McMoRan Inc. has a 1 year low of $32.83 and a 1 year high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.34. The stock has a fifty day moving average price of $45.99 and a 200-day moving average price of $47.80.

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 business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.45 billion. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 earnings per share. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.59 EPS for the current year.

Freeport-McMoRan Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.64%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 21.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FCX shares. UBS Group raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $54.00 to $55.00 in a research report on Wednesday, September 4th. JPMorgan Chase & Co. boosted their price objective on Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Scotiabank lowered 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $60.00 target price on shares of Freeport-McMoRan in a research report on Wednesday, July 24th. Finally, Raymond James increased their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday. Six research 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

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.