U.S. Capital Wealth Advisors LLC Increases Stock Position in Freeport-McMoRan Inc. $FCX

Key Points

• U.S. Capital Wealth Advisors LLC increased its stock position in Freeport-McMoRan by 11.1% in the 2nd quarter, acquiring a total of 260,457 shares valued at approximately $11.29 million.
• Recent earnings results showed Freeport-McMoRan reported $0.54 EPS for the quarter, surpassing expectations and indicating a 14.5% revenue growth year-over-year.
• Analysts have varying opinions, with target prices ranging from $50.00 to $56.00 per share and a consensus rating of "Moderate Buy".

U.S. Capital Wealth Advisors LLC increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 11.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 260,457 shares of the natural resource company's stock after purchasing an additional 26,127 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Freeport-McMoRan were worth $11,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Freeport-McMoRan by 1.5% in the first quarter. Vanguard Group Inc. now owns 125,042,285 shares of the natural resource company's stock worth $4,734,101,000 after purchasing an additional 1,822,987 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Freeport-McMoRan by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,547,489 shares of the natural resource company's stock worth $1,421,549,000 after buying an additional 5,661,958 shares during the last quarter. Amundi boosted its holdings in shares of Freeport-McMoRan by 28.1% in the 1st quarter. Amundi now owns 27,635,497 shares of the natural resource company's stock worth $1,046,280,000 after buying an additional 6,054,537 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Freeport-McMoRan by 13.7% in the 1st quarter. Bank of New York Mellon Corp now owns 21,942,063 shares of the natural resource company's stock worth $830,726,000 after buying an additional 2,642,810 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Freeport-McMoRan by 16.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,162,058 shares of the natural resource company's stock worth $498,270,000 after buying an additional 1,815,285 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $44.96 on Monday. 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 one year low of $27.66 and a one year high of $52.61. The business's 50 day simple moving average is $43.57 and its two-hundred day simple moving average is $40.45. The stock has a market capitalization of $64.55 billion, a P/E ratio of 34.06, a price-to-earnings-growth ratio of 0.84 and a beta of 1.59.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.09. The firm had revenue of $7.58 billion for 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 business's revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 earnings per share. Analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared 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. This represents a $0.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, July 15th. Freeport-McMoRan's dividend payout ratio (DPR) is currently 22.73%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Freeport-McMoRan from $42.00 to $56.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. UBS Group downgraded Freeport-McMoRan from a "buy" rating to a "neutral" rating and upped their price objective for the company from $45.00 to $50.00 in a research note on Friday, July 11th. Hsbc Global Res downgraded Freeport-McMoRan from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada upped their price objective on Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Citigroup upped their price target on Freeport-McMoRan from $44.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.33.

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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