Freeport-McMoRan Inc (FCX) Shares Bought by James Investment Research Inc.

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James Investment Research Inc. boosted its position in Freeport-McMoRan Inc (NYSE:FCX) by 1,339.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 157,225 shares of the natural resource company’s stock after purchasing an additional 146,300 shares during the period. James Investment Research Inc.’s holdings in Freeport-McMoRan were worth $2,189,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FCX. Whittier Trust Co. increased its holdings in shares of Freeport-McMoRan by 405.9% in the second quarter. Whittier Trust Co. now owns 8,640 shares of the natural resource company’s stock valued at $316,000 after buying an additional 6,932 shares in the last quarter. St. Johns Investment Management Company LLC increased its holdings in shares of Freeport-McMoRan by 243.2% in the second quarter. St. Johns Investment Management Company LLC now owns 8,665 shares of the natural resource company’s stock valued at $150,000 after buying an additional 6,140 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Freeport-McMoRan by 165.5% in the second quarter. Parallel Advisors LLC now owns 9,015 shares of the natural resource company’s stock valued at $155,000 after buying an additional 5,619 shares in the last quarter. Private Trust Co. NA bought a new position in shares of Freeport-McMoRan in the second quarter valued at $172,000. Finally, Confluence Investment Management LLC bought a new position in shares of Freeport-McMoRan in the second quarter valued at $175,000. Hedge funds and other institutional investors own 71.83% of the company’s stock.

Shares of NYSE:FCX opened at $11.65 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.78 and a current ratio of 2.84. Freeport-McMoRan Inc has a 12-month low of $10.59 and a 12-month high of $20.25. The firm has a market cap of $16.53 billion, a price-to-earnings ratio of 9.96 and a beta of 2.48.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Wednesday, October 24th. The natural resource company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. Freeport-McMoRan had a net margin of 15.80% and a return on equity of 22.63%. The company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the previous year, the business earned $0.34 EPS. The company’s revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts forecast that Freeport-McMoRan Inc will post 1.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Monday, October 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, October 12th. Freeport-McMoRan’s dividend payout ratio is currently 17.09%.

Several research analysts have issued reports on FCX shares. ValuEngine cut Freeport-McMoRan from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Deutsche Bank raised Freeport-McMoRan from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Jefferies Financial Group reissued a “buy” rating and set a $24.00 target price on shares of Freeport-McMoRan in a research note on Thursday, July 26th. Bank of America raised shares of Freeport-McMoRan from an “underperform” rating to a “neutral” rating and set a $17.00 target price on the stock in a research note on Thursday, August 2nd. Finally, Clarkson Capital downgraded shares of Freeport-McMoRan from a “buy” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Tuesday, September 11th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. Freeport-McMoRan has a consensus rating of “Hold” and an average target price of $17.18.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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