U.S. Capital Wealth Advisors LLC Lowers Stake in Freeport-McMoRan Inc. (NYSE:FCX)

U.S. Capital Wealth Advisors LLC lessened its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,410 shares of the natural resource company’s stock after selling 7,473 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Freeport-McMoRan were worth $11,003,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. increased its stake in shares of Freeport-McMoRan by 1,170.7% during the second quarter. Hazlett Burt & Watson Inc. now owns 521 shares of the natural resource company’s stock worth $25,000 after acquiring an additional 480 shares during the period. Spectrum Wealth Counsel LLC acquired a new stake in Freeport-McMoRan in the second quarter valued at about $25,000. Matrix Trust Co purchased a new stake in Freeport-McMoRan in the 3rd quarter valued at approximately $25,000. LRI Investments LLC acquired a new position in Freeport-McMoRan during the 1st quarter worth approximately $26,000. Finally, Lynx Investment Advisory purchased a new position in shares of Freeport-McMoRan during the 2nd quarter worth approximately $26,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 1.2 %

Shares of NYSE FCX traded down $0.59 on Wednesday, hitting $47.94. The company had a trading volume of 2,776,417 shares, compared to its average volume of 13,064,819. The firm has a market capitalization of $68.87 billion, a P/E ratio of 42.35, a PEG ratio of 2.03 and a beta of 1.90. The company has a quick ratio of 1.34, a current ratio of 2.40 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month high of $55.24. The business has a 50 day moving average of $45.74 and a two-hundred day moving average of $47.86.

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, beating analysts’ consensus estimates of $0.37 by $0.01. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. Freeport-McMoRan had a net margin of 7.83% and a return on equity of 7.60%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.58 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be given a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.63%. Freeport-McMoRan’s payout ratio is currently 26.55%.

Wall Street Analysts Forecast Growth

FCX has been the topic of a number of analyst reports. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Morgan Stanley lowered their price target on shares of Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $60.00 price target on shares of Freeport-McMoRan in a report on Wednesday, July 24th. UBS Group raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $54.00 to $55.00 in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus price target of $53.92.

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.