Freeport-McMoRan Inc (FCX) Shares Bought by First Trust Advisors LP

First Trust Advisors LP boosted its position in shares of Freeport-McMoRan Inc (NYSE:FCX) by 25.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,327,271 shares of the natural resource company’s stock after acquiring an additional 272,216 shares during the quarter. First Trust Advisors LP owned 0.09% of Freeport-McMoRan worth $18,476,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Alps Advisors Inc. boosted its holdings in Freeport-McMoRan by 27.2% during the 2nd quarter. Alps Advisors Inc. now owns 14,947 shares of the natural resource company’s stock valued at $283,000 after acquiring an additional 3,200 shares during the period. Independent Advisor Alliance boosted its holdings in Freeport-McMoRan by 9.6% during the 2nd quarter. Independent Advisor Alliance now owns 37,659 shares of the natural resource company’s stock valued at $583,000 after acquiring an additional 3,311 shares during the period. Atlas Capital Advisors LLC boosted its holdings in Freeport-McMoRan by 34.2% during the 2nd quarter. Atlas Capital Advisors LLC now owns 13,510 shares of the natural resource company’s stock valued at $227,000 after acquiring an additional 3,445 shares during the period. Oakbrook Investments LLC boosted its holdings in Freeport-McMoRan by 4.2% during the 2nd quarter. Oakbrook Investments LLC now owns 112,030 shares of the natural resource company’s stock valued at $1,934,000 after acquiring an additional 4,480 shares during the period. Finally, Wedbush Securities Inc. boosted its holdings in Freeport-McMoRan by 11.0% during the 2nd quarter. Wedbush Securities Inc. now owns 45,500 shares of the natural resource company’s stock valued at $785,000 after acquiring an additional 4,503 shares during the period. Institutional investors own 73.10% of the company’s stock.

Shares of FCX opened at $11.93 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.84 and a quick ratio of 1.78. The stock has a market capitalization of $17.68 billion, a PE ratio of 10.20 and a beta of 2.40. Freeport-McMoRan Inc has a 1 year low of $10.59 and a 1 year high of $20.25.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data 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. The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.50 billion. Freeport-McMoRan had a return on equity of 22.63% and a net margin of 15.80%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. As a group, sell-side analysts expect that Freeport-McMoRan Inc will post 1.66 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Monday, October 15th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, October 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 17.09%.

In other news, Director Courtney Mather sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $11.15, for a total transaction of $836,250.00. Following the sale, the director now owns 152,133 shares of the company’s stock, valued at approximately $1,696,282.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.05% of the stock is currently owned by company insiders.

A number of brokerages recently commented on FCX. ValuEngine cut Freeport-McMoRan from a “sell” rating to a “strong sell” rating in a report on Thursday. Citigroup lowered their target price on Freeport-McMoRan from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, October 17th. Raymond James set a $16.00 price objective on Freeport-McMoRan and gave the company a “hold” rating in a research note on Wednesday, October 24th. Deutsche Bank upgraded Freeport-McMoRan from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $24.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, July 26th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $16.67.

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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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