Freeport-McMoRan Inc. $FCX Shares Purchased by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 10.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,559 shares of the natural resource company’s stock after purchasing an additional 11,216 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Freeport-McMoRan were worth $5,189,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Strengthening Families & Communities LLC lifted its stake in Freeport-McMoRan by 0.6% during the 2nd quarter. Strengthening Families & Communities LLC now owns 42,617 shares of the natural resource company’s stock worth $1,822,000 after acquiring an additional 261 shares in the last quarter. CVA Family Office LLC lifted its position 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 worth $66,000 after purchasing an additional 268 shares in the last quarter. Cypress Wealth Services LLC lifted its position 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 purchasing an additional 273 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of 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 period. Finally, Princeton Capital Management LLC grew its holdings in shares of Freeport-McMoRan by 1.1% in 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 in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Down 0.8%

Shares of NYSE FCX opened at $40.20 on Friday. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $49.12. The company has a market capitalization of $57.73 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 0.94 and a beta of 1.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.45 and a quick ratio of 1.19. The business has a 50-day moving average of $41.62 and a two-hundred day moving average of $41.77.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. The business had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.74 billion. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS. On average, analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, October 15th. Freeport-McMoRan’s payout ratio is currently 21.13%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Clarkson Capital reiterated a “neutral” rating and set a $42.00 target price on shares of Freeport-McMoRan in a report on Thursday, September 25th. Dbs Bank reduced their price objective on Freeport-McMoRan from $51.00 to $48.00 in a research note on Thursday, October 2nd. Scotiabank boosted their target price on Freeport-McMoRan from $49.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 28th. HSBC upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price target for the stock from $43.00 to $50.00 in a report on Friday, October 17th. Finally, Hsbc Global Res upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.01.

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.