Krilogy Financial LLC Acquires Shares of 13,891 Freeport-McMoRan Inc. $FCX

Key Points

• Krilogy Financial LLC has acquired 13,891 shares of Freeport-McMoRan Inc., valued at approximately $602,000, indicating growing institutional interest in the company.
• Freeport-McMoRan's earnings report revealed an EPS of $0.54, exceeding analysts' expectations and showcasing a 14.5% year-over-year revenue increase to $7.58 billion.
• The company's stock has a current dividend yield of 1.3%, with a recent quarterly dividend payout of $0.15 per share, demonstrating steady income generation for investors.

Krilogy Financial LLC purchased a new position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,891 shares of the natural resource company's stock, valued at approximately $602,000.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted its position in shares of Freeport-McMoRan by 24.2% during the fourth 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. Bank Pictet & Cie Europe AG grew its position in Freeport-McMoRan by 27.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company's stock worth $20,565,000 after acquiring an additional 115,552 shares during the last quarter. Bison Wealth LLC grew its position 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 worth $366,000 after buying an additional 507 shares during the last quarter. State of Wyoming boosted its holdings in shares of Freeport-McMoRan by 104.9% during the 4th quarter. State of Wyoming now owns 10,036 shares of the natural resource company's stock valued at $382,000 after buying an additional 5,139 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in Freeport-McMoRan by 6.0% in the 4th quarter. Tidal Investments LLC now owns 164,445 shares of the natural resource company's stock worth $6,262,000 after purchasing an additional 9,364 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

Analyst Upgrades and Downgrades

FCX has been the subject of several research analyst reports. Morgan Stanley cut Freeport-McMoRan from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $45.00 to $54.00 in a report on Tuesday, July 15th. Royal Bank Of Canada raised their price target on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Stifel Canada raised shares of Freeport-McMoRan to a "strong-buy" rating in a report on Tuesday, July 8th. BMO Capital Markets lowered their target price on Freeport-McMoRan from $55.00 to $54.00 and set an "outperform" rating for the company in a research note on Thursday, July 24th. Finally, UBS Group lowered shares of Freeport-McMoRan from a "buy" rating to a "neutral" rating and increased their target price for the company from $45.00 to $50.00 in a research note on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $51.33.

Freeport-McMoRan Price Performance

NYSE FCX traded up $0.03 during trading hours on Friday, reaching $44.96. The company's stock had a trading volume of 21,115,490 shares, compared to its average volume of 11,596,498. The company's 50-day moving average is $43.57 and its two-hundred day moving average is $40.43. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $52.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21. The firm has a market capitalization of $64.55 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 0.84 and a beta of 1.59.

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

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.3%. Freeport-McMoRan's dividend payout ratio (DPR) 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.