Catalina Capital Group LLC Increases Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Catalina Capital Group LLC grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 9.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,656 shares of the natural resource company’s stock after purchasing an additional 589 shares during the quarter. Catalina Capital Group LLC’s holdings in Freeport-McMoRan were worth $332,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Duality Advisers LP raised its position in shares of Freeport-McMoRan by 52.7% during the 1st quarter. Duality Advisers LP now owns 46,221 shares of the natural resource company’s stock worth $2,173,000 after acquiring an additional 15,949 shares in the last quarter. Empirical Finance LLC raised its position in Freeport-McMoRan by 3.5% during the 1st quarter. Empirical Finance LLC now owns 51,802 shares of the natural resource company’s stock worth $2,436,000 after buying an additional 1,748 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Freeport-McMoRan by 0.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 64,053 shares of the natural resource company’s stock valued at $3,012,000 after purchasing an additional 203 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Freeport-McMoRan by 9.4% during the 1st quarter. Quantbot Technologies LP now owns 75,657 shares of the natural resource company’s stock worth $3,557,000 after buying an additional 6,503 shares in the last quarter. Finally, Stokes Family Office LLC boosted its stake in shares of Freeport-McMoRan by 84.4% in the first quarter. Stokes Family Office LLC now owns 10,677 shares of the natural resource company’s stock valued at $502,000 after buying an additional 4,887 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

FCX has been the topic of a number of recent analyst reports. UBS Group raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and upped their price target for the stock from $54.00 to $55.00 in a research note on Wednesday, September 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $60.00 price objective on shares of Freeport-McMoRan in a report on Wednesday, July 24th. Scotiabank dropped their target price on shares of Freeport-McMoRan from $53.00 to $52.00 and set a “sector perform” rating for the company in a report on Wednesday, October 23rd. Raymond James raised their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price target on Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.00.

Freeport-McMoRan Price Performance

FCX opened at $46.87 on Thursday. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $55.24. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The firm has a market cap of $67.35 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 1.98 and a beta of 1.91. The company has a fifty day simple moving average of $46.31 and a 200 day simple moving average of $47.59.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.45 billion. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. Freeport-McMoRan’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.52 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, October 15th. Freeport-McMoRan’s dividend payout ratio is currently 21.90%.

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.