Freeport-McMoRan Inc. $FCX Shares Purchased by Arrow Capital Pty Ltd

Arrow Capital Pty Ltd increased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 88.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 113,100 shares of the natural resource company’s stock after buying an additional 53,100 shares during the quarter. Freeport-McMoRan comprises about 3.6% of Arrow Capital Pty Ltd’s holdings, making the stock its 12th biggest position. Arrow Capital Pty Ltd’s holdings in Freeport-McMoRan were worth $4,903,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Freeport-McMoRan in the 2nd quarter worth approximately $28,000. Dagco Inc. acquired a new position in shares of Freeport-McMoRan during the first quarter valued at approximately $37,000. Beacon Capital Management LLC raised its holdings in Freeport-McMoRan by 59.6% during the second quarter. Beacon Capital Management LLC now owns 876 shares of the natural resource company’s stock worth $38,000 after purchasing an additional 327 shares in the last quarter. CKW Financial Group acquired a new stake in Freeport-McMoRan in the first quarter worth approximately $40,000. Finally, Hilltop National Bank bought a new position in Freeport-McMoRan during the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 0.5%

Freeport-McMoRan stock opened at $44.79 on Wednesday. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $49.12. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 2.45. The firm has a market capitalization of $64.31 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 1.02 and a beta of 1.49. The company has a 50 day moving average price of $41.44 and a 200 day moving average price of $42.31.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, October 23rd. The natural resource company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The firm had revenue of $6.97 billion during 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% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. Research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Wednesday, October 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.3%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 21.13%.

Analyst Upgrades and Downgrades

FCX has been the topic of a number of research analyst reports. Wall Street Zen lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Morgan Stanley lowered their price objective on shares of Freeport-McMoRan from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. Citigroup upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freeport-McMoRan in a report on Wednesday, November 26th. Finally, Royal Bank Of Canada dropped their price target on Freeport-McMoRan from $54.00 to $48.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 1st. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $47.73.

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.