Atlas Capital Advisors Inc. Makes New $666,000 Investment in Freeport-McMoRan Inc. $FCX

Atlas Capital Advisors Inc. acquired a new position in Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 13,122 shares of the natural resource company’s stock, valued at approximately $666,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPL Wealth Management LLC acquired a new stake in Freeport-McMoRan in the 3rd quarter worth about $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Freeport-McMoRan in the 4th quarter worth about $38,000. Modus Advisors LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter valued at approximately $40,000. Key Financial Inc raised its position in shares of Freeport-McMoRan by 32.3% in the 4th quarter. Key Financial Inc now owns 828 shares of the natural resource company’s stock valued at $42,000 after buying an additional 202 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 0.2%

Shares of NYSE FCX opened at $68.28 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $72.09. The firm has a 50 day moving average price of $64.24 and a two-hundred day moving average price of $59.18. The stock has a market cap of $98.15 billion, a P/E ratio of 36.32, a price-to-earnings-growth ratio of 0.82 and a beta of 1.35.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the prior year, the company posted $0.24 EPS. The company’s revenue was up 8.8% on a year-over-year basis. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio is currently 15.96%.

Analyst Ratings Changes

Several brokerages have recently commented on FCX. Wells Fargo & Company dropped their target price on shares of Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Scotiabank lowered their price objective on shares of Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating for the company in a research report on Friday, April 24th. Freedom Capital upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Weiss Ratings upgraded shares of Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Finally, HSBC upped their price objective on shares of Freeport-McMoRan from $72.00 to $75.00 in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.86.

About Freeport-McMoRan

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.