AE Wealth Management LLC Has $987,000 Stock Holdings in Freeport-McMoRan Inc. $FCX

AE Wealth Management LLC boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 16.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,773 shares of the natural resource company’s stock after acquiring an additional 3,178 shares during the period. AE Wealth Management LLC’s holdings in Freeport-McMoRan were worth $987,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Strengthening Families & Communities LLC grew its holdings in shares of Freeport-McMoRan by 0.6% in the 2nd quarter. Strengthening Families & Communities LLC now owns 42,617 shares of the natural resource company’s stock worth $1,822,000 after purchasing an additional 261 shares during the last quarter. CVA Family Office LLC lifted its stake in shares of Freeport-McMoRan by 21.3% during the second quarter. CVA Family Office LLC now owns 1,527 shares of the natural resource company’s stock valued at $66,000 after acquiring an additional 268 shares during the period. Cypress Wealth Services LLC raised its stake in shares of Freeport-McMoRan by 4.6% during the second quarter. Cypress Wealth Services LLC now owns 6,230 shares of the natural resource company’s stock worth $270,000 after buying an additional 273 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in Freeport-McMoRan by 0.4% in the first quarter. Kestra Private Wealth Services LLC now owns 62,015 shares of the natural resource company’s stock valued at $2,348,000 after purchasing an additional 275 shares during the last quarter. Finally, Princeton Capital Management LLC grew its holdings in Freeport-McMoRan by 1.1% during the first quarter. Princeton Capital Management LLC now owns 25,980 shares of the natural resource company’s stock valued at $984,000 after purchasing an additional 275 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $40.56 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.19 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $58.24 billion, a PE ratio of 28.57, a PEG ratio of 0.94 and a beta of 1.64. The firm has a 50 day moving average of $41.74 and a 200-day moving average of $41.71. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $49.12.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, October 23rd. The natural resource company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%. The business had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.74 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, equities 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 was paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, October 15th. Freeport-McMoRan’s payout ratio is presently 21.13%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FCX shares. Citigroup upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded Freeport-McMoRan to a “strong-buy” rating in a research note on Wednesday, October 8th. Dbs Bank reduced their price target on Freeport-McMoRan from $51.00 to $48.00 in a report on Thursday, October 2nd. UBS Group set a $48.00 price target on Freeport-McMoRan and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, Clarkson Capital reiterated a “neutral” rating and issued a $42.00 price objective on shares of Freeport-McMoRan in a report on Thursday, September 25th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus price target of $47.01.

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.