Trivium Point Advisory LLC Has $3.62 Million Stock Position in Freeport-McMoRan Inc. $FCX

Key Points

• Trivium Point Advisory LLC increased its stake in Freeport-McMoRan Inc. by 317.4% in the second quarter, bringing its total shares to 83,444 valued at approximately $3.62 million.
• Analysts show mixed sentiments towards Freeport-McMoRan, with a consensus target price of $46.74 and ratings ranging from "Strong Buy" to "Neutral."
• The company announced a quarterly dividend of $0.15 per share, effective November 3rd, reflecting an annualized yield of 1.6%.

Trivium Point Advisory LLC grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 317.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,444 shares of the natural resource company's stock after purchasing an additional 63,452 shares during the quarter. Trivium Point Advisory LLC's holdings in Freeport-McMoRan were worth $3,617,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Kestra Private Wealth Services LLC increased its position in shares of Freeport-McMoRan by 0.4% during the 1st quarter. Kestra Private Wealth Services LLC now owns 62,015 shares of the natural resource company's stock worth $2,348,000 after purchasing an additional 275 shares during the last quarter. Princeton Capital Management LLC boosted its stake in shares of Freeport-McMoRan by 1.1% during the 1st quarter. Princeton Capital Management LLC now owns 25,980 shares of the natural resource company's stock worth $984,000 after acquiring an additional 275 shares during the period. Capital Investment Advisory Services LLC boosted its stake in shares of Freeport-McMoRan by 3.2% during the 1st quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company's stock worth $345,000 after acquiring an additional 278 shares during the period. Capital Analysts LLC boosted its stake in shares of Freeport-McMoRan by 12.5% during the 1st quarter. Capital Analysts LLC now owns 2,550 shares of the natural resource company's stock worth $96,000 after acquiring an additional 284 shares during the period. Finally, Sargent Investment Group LLC boosted its stake in shares of Freeport-McMoRan by 2.8% during the 1st quarter. Sargent Investment Group LLC now owns 10,421 shares of the natural resource company's stock worth $395,000 after acquiring an additional 285 shares during the period. Institutional investors and hedge funds own 80.77% of the company's stock.

Analysts Set New Price Targets

FCX has been the subject of several research analyst reports. Clarkson Capital reiterated a "neutral" rating and set a $42.00 target price on shares of Freeport-McMoRan in a research note on Thursday, September 25th. Morgan Stanley downgraded Freeport-McMoRan from an "overweight" rating to an "equal weight" rating and lifted their target price for the stock from $45.00 to $54.00 in a research note on Tuesday, July 15th. Citigroup lifted their target price on Freeport-McMoRan from $44.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Scotiabank reiterated a "sector perform" rating and set a $45.00 target price (down from $55.00) on shares of Freeport-McMoRan in a research note on Thursday, September 25th. Finally, Sanford C. Bernstein upgraded Freeport-McMoRan from a "market perform" rating to an "outperform" rating and set a $48.50 price target for the company in a research note on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Freeport-McMoRan has an average rating of "Moderate Buy" and a consensus target price of $46.74.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $37.14 on Tuesday. The stock has a fifty day moving average price of $42.94 and a 200-day moving average price of $40.56. The company has a market cap of $53.32 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 0.68 and a beta of 1.59. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.21 and a current ratio of 2.47. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $51.45.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.09. The firm had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $6.85 billion. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The company's revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. As a group, equities analysts anticipate 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 given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, October 15th. Freeport-McMoRan's dividend payout ratio is presently 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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