JTC Employer Solutions Trustee Ltd Sells 20,000 Shares of Freeport-McMoRan Inc. $FCX

Key Points

• JTC Employer Solutions Trustee Ltd has reduced its holdings in Freeport-McMoRan Inc. by 25%, selling 20,000 shares and now owns 60,000 shares worth approximately $2.6 million.
• Several analysts have given mixed ratings for Freeport-McMoRan, with average price target estimates ranging from $42 to $52 and an overall rating of "Moderate Buy."
• Freeport-McMoRan announced a quarterly dividend of $0.15 per share, resulting in a dividend yield of 1.5%, with a payout ratio of 22.73%.

JTC Employer Solutions Trustee Ltd decreased its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 25.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,000 shares of the natural resource company's stock after selling 20,000 shares during the quarter. JTC Employer Solutions Trustee Ltd's holdings in Freeport-McMoRan were worth $2,600,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Dagco Inc. bought a new position in Freeport-McMoRan in the first quarter valued at about $37,000. Beacon Capital Management LLC raised its stake in shares of Freeport-McMoRan by 59.6% in the second 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. CKW Financial Group bought a new position in shares of Freeport-McMoRan in the first quarter worth about $40,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Freeport-McMoRan in the first quarter worth about $42,000. Finally, Hilltop National Bank purchased a new stake in shares of Freeport-McMoRan during the second quarter worth about $43,000. Institutional investors own 80.77% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FCX shares. Clarkson Capital reiterated a "neutral" rating and set a $42.00 target price on shares of Freeport-McMoRan in a research report on Thursday, September 25th. Dbs Bank cut their target price on Freeport-McMoRan from $51.00 to $48.00 in a research report on Thursday, October 2nd. Sanford C. Bernstein upgraded Freeport-McMoRan from a "market perform" rating to an "outperform" rating and set a $48.50 target price for the company in a research report on Thursday, September 25th. Hsbc Global Res cut Freeport-McMoRan from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Finally, BNP Paribas Exane cut their target price on Freeport-McMoRan from $56.00 to $52.00 and set an "outperform" rating for the company in a research report on Thursday, September 25th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.90.

Freeport-McMoRan Stock Performance

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

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.09. The business 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 firm's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. On average, research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. Freeport-McMoRan's payout ratio is 22.73%.

Freeport-McMoRan Company 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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