ORG Partners LLC Lowers Position in Freeport-McMoRan Inc. (NYSE:FCX)

ORG Partners LLC decreased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 67.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,940 shares of the natural resource company’s stock after selling 4,015 shares during the period. ORG Partners LLC’s holdings in Freeport-McMoRan were worth $97,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Hazlett Burt & Watson Inc. grew its stake in shares of Freeport-McMoRan by 1,170.7% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 521 shares of the natural resource company’s stock worth $25,000 after acquiring an additional 480 shares in the last quarter. Spectrum Wealth Counsel LLC purchased a new stake in Freeport-McMoRan in the 2nd quarter valued at about $25,000. Matrix Trust Co bought a new position in shares of Freeport-McMoRan during the 3rd quarter worth approximately $25,000. LRI Investments LLC purchased a new position in shares of Freeport-McMoRan in the 1st quarter worth approximately $26,000. Finally, Lynx Investment Advisory bought a new position in shares of Freeport-McMoRan in the second quarter valued at approximately $26,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 3.2 %

NYSE:FCX opened at $47.30 on Wednesday. The company has a market cap of $67.95 billion, a P/E ratio of 41.86, a P/E/G ratio of 2.03 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 0.30, a current ratio of 2.40 and a quick ratio of 1.34. The stock’s fifty day moving average price is $45.03 and its two-hundred day moving average price is $47.88.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Tuesday, July 23rd. The natural resource company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6 billion. Freeport-McMoRan had a return on equity of 7.60% and a net margin of 7.83%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, analysts expect that Freeport-McMoRan Inc. will post 1.58 EPS for the current year.

Freeport-McMoRan Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.63%. The ex-dividend date is Tuesday, October 15th. Freeport-McMoRan’s payout ratio is 26.55%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Scotiabank boosted their price objective on Freeport-McMoRan from $52.00 to $53.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 8th. UBS Group raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $54.00 to $55.00 in a report on Wednesday, September 4th. JPMorgan Chase & Co. raised their price objective on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, Raymond James raised their price target on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.29.

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.