Catalyst Financial Partners LLC Grows Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Catalyst Financial Partners LLC boosted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,085 shares of the natural resource company’s stock after acquiring an additional 364 shares during the period. Catalyst Financial Partners LLC’s holdings in Freeport-McMoRan were worth $354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ashton Thomas Private Wealth LLC increased its position in Freeport-McMoRan by 3.5% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 19,091 shares of the natural resource company’s stock valued at $898,000 after buying an additional 649 shares in the last quarter. Norden Group LLC raised its position in shares of Freeport-McMoRan by 28.2% in the 1st quarter. Norden Group LLC now owns 16,659 shares of the natural resource company’s stock worth $783,000 after purchasing an additional 3,665 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in Freeport-McMoRan by 14.3% in the 1st quarter. J.W. Cole Advisors Inc. now owns 13,751 shares of the natural resource company’s stock worth $647,000 after purchasing an additional 1,719 shares in the last quarter. Private Advisor Group LLC grew its position in Freeport-McMoRan by 16.8% during the 1st quarter. Private Advisor Group LLC now owns 73,668 shares of the natural resource company’s stock valued at $3,464,000 after purchasing an additional 10,612 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in Freeport-McMoRan during the 1st quarter valued at about $1,416,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FCX. Morgan Stanley cut their price target on shares of Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, September 19th. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. boosted their price target on Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $60.00 price target on shares of Freeport-McMoRan in a report on Wednesday, July 24th. Finally, UBS Group upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $54.00 to $55.00 in a report on Wednesday, September 4th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average price target of $54.00.

Freeport-McMoRan Trading Down 2.1 %

Shares of FCX stock opened at $45.02 on Friday. Freeport-McMoRan Inc. has a 1 year low of $32.83 and a 1 year high of $55.24. The firm has a fifty day moving average price of $46.14 and a 200-day moving average price of $47.72. The company has a market cap of $64.69 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 1.99 and a beta of 1.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.34.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The business had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities analysts predict that Freeport-McMoRan Inc. will post 1.59 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, October 15th. Freeport-McMoRan’s payout ratio is 21.90%.

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.