Clarius Group LLC Has $391,000 Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Freeport-McMoRan logo Clarius Group LLC decreased its position in Freeport-McMoRan Inc. (NYSE:FCX [1] – Free Report [2]) by 5.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,054 shares of the natural resource company’s stock after selling 420 shares during the period. Clarius Group LLC’s holdings in Freeport-McMoRan were worth £391,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. LRI Investments LLC acquired a new position in shares of Freeport-McMoRan in the first quarter valued at approximately £26,000. Lynx Investment Advisory bought a new stake in Freeport-McMoRan in the 2nd quarter valued at £26,000.

Jones Financial Companies Lllp boosted its stake in Freeport-McMoRan by 422.2% in the 4th quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock worth £28,000 after purchasing an additional 532 shares during the period. Vermillion & White Wealth Management Group LLC bought a new position in Freeport-McMoRan during the 4th quarter worth about £32,000.

Finally, Versant Capital Management Inc raised its stake in shares of Freeport-McMoRan by 209.9% in the 2nd quarter. Versant Capital Management Inc now owns 657 shares of the natural resource company’s stock valued at £32,000 after purchasing an additional 445 shares during the period. Institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FCX shares.

Morgan Stanley raised Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from £49.50 to £62.00 in a research report on Friday, June 21st. BNP Paribas raised Freeport-McMoRan to a “strong-buy” rating in a research report on Friday, June 21st. Bernstein Bank lifted their price objective on shares of Freeport-McMoRan from £52.00 to £52.50 and gave the company an “overweight” rating in a report on Tuesday, April 23rd.

Scotiabank cut their price objective on shares of Freeport-McMoRan from £60.00 to £58.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a £60.00 target price on shares of Freeport-McMoRan in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock.

According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of £53.07.

View Our Latest Stock Analysis on Freeport-McMoRan [3]

Freeport-McMoRan Stock Performance

NYSE:FCX [4] traded up £0.01 during mid-day trading on Friday, hitting £41.05. The stock had a trading volume of 9,181,998 shares, compared to its average volume of 13,702,303. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.34 and a current ratio of 2.40.

Freeport-McMoRan Inc. has a twelve month low of £32.83 and a twelve month high of £55.24. The company’s 50 day simple moving average is £47.61 and its 200 day simple moving average is £46.20. The stock has a market cap of £58.97 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 2.07 and a beta of 1.92.

Freeport-McMoRan (NYSE:FCX [5] – Get Free Report [6]) last posted its earnings results on Tuesday, July 23rd. The natural resource company reported £0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of £0.39 by £0.07. Freeport-McMoRan had a net margin of 7.83% and a return on equity of 7.60%.

The company had revenue of £6.62 billion during the quarter, compared to analysts’ expectations of £6 billion. During the same quarter last year, the company posted £0.35 EPS. Freeport-McMoRan’s quarterly revenue was up 15.5% compared to the same quarter last year.

On average, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.67 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 15th were paid a dividend of £0.15 per share. The ex-dividend date was Monday, July 15th.

This represents a £0.60 dividend on an annualized basis and a dividend yield of 1.46%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 26.55%.

Insider Buying and Selling

In related news, CAO Stephen T. Higgins [7] sold 80,000 shares of the company’s stock in a transaction dated Monday, May 13th.

The shares were sold at an average price of £52.03, for a total value of £4,162,400.00. Following the transaction, the chief accounting officer now directly owns 104,377 shares in the company, valued at £5,430,735.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink [8].

0.79% of the stock is currently owned by insiders.

Freeport-McMoRan Profile

(Free Report [9]) 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.