Atria Wealth Solutions Inc. Has $978,000 Stock Holdings in Freeport-McMoRan Inc. $FCX

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Freeport-McMoRan Inc. by 64.2% in Q2, now owning 22,306 shares valued at $978,000 after selling 40,044 shares.
• Freeport-McMoRan's recent quarterly earnings surpassed estimates, reporting $0.54 EPS against a consensus of $0.45, with revenues reaching $7.58 billion.
• The company is set to pay a quarterly dividend of $0.15 per share on November 3rd, representing an annualized dividend yield of 1.5%.

Atria Wealth Solutions Inc. lessened its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 64.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,306 shares of the natural resource company's stock after selling 40,044 shares during the period. Atria Wealth Solutions Inc.'s holdings in Freeport-McMoRan were worth $978,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FCX. Brighton Jones LLC boosted its stake in shares of Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock valued at $564,000 after purchasing an additional 2,882 shares in the last quarter. Bison Wealth LLC boosted its stake in shares of Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company's stock valued at $366,000 after purchasing an additional 507 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Freeport-McMoRan by 5.6% in the 1st quarter. GAMMA Investing LLC now owns 22,805 shares of the natural resource company's stock valued at $863,000 after purchasing an additional 1,219 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of Freeport-McMoRan by 1.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 33,307 shares of the natural resource company's stock valued at $1,261,000 after purchasing an additional 327 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its stake in shares of Freeport-McMoRan by 3.7% in the 1st quarter. CWA Asset Management Group LLC now owns 14,038 shares of the natural resource company's stock valued at $531,000 after purchasing an additional 507 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Stifel Canada upgraded shares of Freeport-McMoRan to a "strong-buy" rating in a research note on Tuesday, July 8th. Wall Street Zen downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. UBS Group set a $48.00 price target on shares of Freeport-McMoRan and gave the stock a "buy" rating in a research report on Friday, October 3rd. Sanford C. Bernstein upgraded shares of Freeport-McMoRan from a "market perform" rating to an "outperform" rating and set a $48.50 price target on the stock in a research report on Thursday, September 25th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Freeport-McMoRan in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Freeport-McMoRan has an average rating of "Moderate Buy" and an average price target of $46.90.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX opened at $41.18 on Friday. The stock has a market capitalization of $59.12 billion, a P/E ratio of 31.20, a P/E/G ratio of 0.95 and a beta of 1.58. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $50.12. The company has a current ratio of 2.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $42.64 and a two-hundred day moving average price of $40.65.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.09. The firm had revenue of $7.58 billion during the quarter, compared to analysts' expectations of $6.85 billion. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The company's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 EPS. Equities analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, October 15th. Freeport-McMoRan's payout ratio is currently 22.73%.

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.

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