Freeport-McMoRan Inc. $FCX Stock Holdings Lessened by DJE Kapital AG

Key Points

• DJE Kapital AG cut its Freeport-McMoRan stake by 53.5% in the first quarter, selling 77,900 shares and ending with 67,677 shares valued at about $3.85 million.
• Analysts remain largely bullish on FCX, with several firms raising price targets and the stock carrying a consensus rating of “Moderate Buy” and an average target price of $68.77.
• Freeport-McMoRan reported strong quarterly results, beating earnings and revenue estimates with $0.57 EPS on $6.23 billion in revenue, and it also announced a quarterly dividend of $0.075 per share.

DJE Kapital AG lessened its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 53.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 67,677 shares of the natural resource company's stock after selling 77,900 shares during the period. DJE Kapital AG's holdings in Freeport-McMoRan were worth $3,847,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FCX. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Freeport-McMoRan during the fourth quarter valued at $25,000. Steph & Co. boosted its position in shares of Freeport-McMoRan by 43.7% in the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company's stock valued at $29,000 after purchasing an additional 150 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in Freeport-McMoRan in the 1st quarter worth about $29,000. Kemnay Advisory Services Inc. purchased a new position in Freeport-McMoRan in the 4th quarter worth about $29,000. Finally, SHP Wealth Management acquired a new stake in Freeport-McMoRan during the 4th quarter worth about $30,000. 80.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Sanford C. Bernstein upped their price objective on shares of Freeport-McMoRan from $53.50 to $58.50 and gave the company a "market perform" rating in a research note on Wednesday, June 10th. HSBC boosted their price target on shares of Freeport-McMoRan from $72.00 to $75.00 in a report on Friday, June 12th. BNP Paribas Exane upped their price target on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the company an "outperform" rating in a research report on Thursday, June 18th. Wall Street Zen raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Finally, The Goldman Sachs Group lowered their price objective on shares of Freeport-McMoRan from $75.00 to $74.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $68.77.

Freeport-McMoRan Stock Up 0.7%

Shares of Freeport-McMoRan stock opened at $58.81 on Tuesday. The firm has a market cap of $84.55 billion, a price-to-earnings ratio of 31.28, a P/E/G ratio of 0.58 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $72.28. The stock has a 50-day simple moving average of $63.76 and a 200-day simple moving average of $62.06.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. The business had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. On average, equities research analysts expect that Freeport-McMoRan Inc. will post 2.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan's payout ratio is currently 15.96%.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.

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