Brian Low Financial Group LLC Acquires New Holdings in Freeport-McMoRan Inc. $FCX

Key Points

• Brian Low Financial Group LLC has acquired a new position in Freeport-McMoRan Inc. amounting to 10,993 shares valued at approximately $477,000 during the 2nd quarter.
• Analyst ratings on Freeport-McMoRan vary, with several firms cutting their price targets, while Wall Street Zen upgraded the rating from "hold" to "buy."
• The company recently declared a quarterly dividend of $0.15 per share, reflecting an annualized yield of 1.5% and a payout ratio of 22.73%.

Brian Low Financial Group LLC bought a new position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,993 shares of the natural resource company's stock, valued at approximately $477,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Beacon Capital Management LLC raised its stake in Freeport-McMoRan by 59.6% during the 2nd quarter. Beacon Capital Management LLC now owns 876 shares of the natural resource company's stock worth $38,000 after buying an additional 327 shares during the period. Dagco Inc. acquired a new stake in shares of Freeport-McMoRan during the first quarter worth about $37,000. Hilltop National Bank bought a new position in shares of Freeport-McMoRan during the 2nd quarter valued at about $43,000. CKW Financial Group bought a new position in shares of Freeport-McMoRan during the 1st quarter valued at about $40,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Freeport-McMoRan in the 1st quarter valued at approximately $42,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FCX shares. Raymond James Financial cut their price target on shares of Freeport-McMoRan from $55.00 to $46.00 and set an "outperform" rating on the stock in a research note on Thursday, September 25th. Jefferies Financial Group restated a "buy" rating and set a $46.00 price objective on shares of Freeport-McMoRan in a report on Wednesday, September 24th. Johnson Rice reduced their target price on shares of Freeport-McMoRan from $55.00 to $48.00 in a research note on Monday, September 29th. CICC Research lowered their target price on Freeport-McMoRan from $51.60 to $42.30 and set an "outperform" rating for the company in a report on Friday, September 26th. Finally, Wall Street Zen upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating in a report on Saturday. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $46.92.

Freeport-McMoRan Trading Up 0.3%

Freeport-McMoRan stock opened at $41.34 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.45 and a quick ratio of 1.21. The firm has a 50-day moving average of $42.55 and a 200-day moving average of $40.97. The company has a market cap of $59.36 billion, a price-to-earnings ratio of 29.12, a P/E/G ratio of 0.96 and a beta of 1.58. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $49.21.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The natural resource company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. The firm had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.74 billion. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. On average, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th will be given 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 dividend payout ratio is 22.73%.

About Freeport-McMoRan

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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