Freeport-McMoRan Inc. $FCX Shares Purchased by Callan Family Office LLC

Key Points

• Callan Family Office LLC increased its holdings in Freeport-McMoRan Inc. by 229.9% during the second quarter, owning a total of $1,170,000 in shares after purchasing an additional 18,803 shares.
• Freeport-McMoRan's stock is currently rated as a Moderate Buy with an average target price of $46.56, reflecting mixed sentiments from analysts on recent price changes.
• The company declared a quarterly dividend of $0.15, which will yield an annualized dividend of 1.5%, with the dividend payout ratio at 22.73%.

Callan Family Office LLC lifted its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 229.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,983 shares of the natural resource company's stock after purchasing an additional 18,803 shares during the period. Callan Family Office LLC's holdings in Freeport-McMoRan were worth $1,170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stratos Investment Management LLC grew its holdings in Freeport-McMoRan by 238.5% during the 1st quarter. Stratos Investment Management LLC now owns 64,519 shares of the natural resource company's stock worth $2,443,000 after acquiring an additional 45,458 shares in the last quarter. Community Bank N.A. grew its holdings in Freeport-McMoRan by 18.5% during the 1st quarter. Community Bank N.A. now owns 39,571 shares of the natural resource company's stock worth $1,498,000 after acquiring an additional 6,188 shares in the last quarter. Bourgeon Capital Management LLC grew its holdings in Freeport-McMoRan by 8.1% during the 2nd quarter. Bourgeon Capital Management LLC now owns 331,549 shares of the natural resource company's stock worth $14,373,000 after acquiring an additional 24,803 shares in the last quarter. Arizona State Retirement System grew its holdings in Freeport-McMoRan by 2.2% during the 1st quarter. Arizona State Retirement System now owns 421,469 shares of the natural resource company's stock worth $15,957,000 after acquiring an additional 8,989 shares in the last quarter. Finally, Financial Sense Advisors Inc. grew its holdings in Freeport-McMoRan by 527.9% during the 1st quarter. Financial Sense Advisors Inc. now owns 76,127 shares of the natural resource company's stock worth $2,882,000 after acquiring an additional 64,003 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. HSBC lowered their price target on shares of Freeport-McMoRan from $46.00 to $43.00 and set a "hold" rating for the company in a report on Thursday, September 25th. Citigroup upgraded shares of Freeport-McMoRan from a "neutral" rating to a "buy" rating and set a $48.00 price target for the company in a report on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Freeport-McMoRan to a "strong-buy" rating in a report on Wednesday, October 8th. Hsbc Global Res downgraded shares of Freeport-McMoRan from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Finally, Stifel Canada upgraded shares of Freeport-McMoRan to a "strong-buy" rating in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Freeport-McMoRan currently has an average rating of "Moderate Buy" and an average target price of $46.56.

Freeport-McMoRan Stock Down 5.5%

Shares of NYSE:FCX opened at $40.92 on Monday. The company has a market capitalization of $58.74 billion, a PE ratio of 31.00, a P/E/G ratio of 0.93 and a beta of 1.58. The company has a current ratio of 2.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $50.28. The firm has a 50 day simple moving average of $42.51 and a 200-day simple moving average of $40.55.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued 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 business had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $6.85 billion. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The company's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. On average, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be given a $0.15 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $0.60 annualized dividend and a yield of 1.5%. Freeport-McMoRan's dividend payout ratio is 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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