Impact Capital Partners LLC Has $239,000 Stake in Freeport-McMoRan Inc. $FCX

Impact Capital Partners LLC decreased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,512 shares of the natural resource company’s stock after selling 413 shares during the period. Impact Capital Partners LLC’s holdings in Freeport-McMoRan were worth $239,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Freeport-McMoRan by 1.5% in the first quarter. Vanguard Group Inc. now owns 125,042,285 shares of the natural resource company’s stock valued at $4,734,101,000 after buying an additional 1,822,987 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Freeport-McMoRan by 17.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 37,547,489 shares of the natural resource company’s stock valued at $1,421,549,000 after purchasing an additional 5,661,958 shares during the period. Amundi raised its holdings in shares of Freeport-McMoRan by 28.1% during the first quarter. Amundi now owns 27,635,497 shares of the natural resource company’s stock valued at $1,046,280,000 after purchasing an additional 6,054,537 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Freeport-McMoRan by 13.7% during the first quarter. Bank of New York Mellon Corp now owns 21,942,063 shares of the natural resource company’s stock valued at $830,726,000 after purchasing an additional 2,642,810 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Freeport-McMoRan by 16.0% during the first quarter. Dimensional Fund Advisors LP now owns 13,162,058 shares of the natural resource company’s stock valued at $498,270,000 after purchasing an additional 1,815,285 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. UBS Group dropped their price objective on shares of Freeport-McMoRan from $50.00 to $42.50 and set a “neutral” rating on the stock in a report on Thursday, September 25th. Scotiabank reiterated a “sector perform” rating and set a $45.00 price objective (down previously from $55.00) on shares of Freeport-McMoRan in a report on Thursday, September 25th. Clarkson Capital reiterated a “neutral” rating and set a $42.00 price objective on shares of Freeport-McMoRan in a report on Thursday, September 25th. Jefferies Financial Group reiterated a “buy” rating and set a $46.00 price objective on shares of Freeport-McMoRan in a report on Wednesday, September 24th. Finally, HSBC dropped their price objective on shares of Freeport-McMoRan from $46.00 to $43.00 and set a “hold” rating on the stock in a report on Thursday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $46.49.

Freeport-McMoRan Trading Down 0.3%

FCX opened at $39.11 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $51.45. The firm has a market capitalization of $56.15 billion, a PE ratio of 29.63, a P/E/G ratio of 0.72 and a beta of 1.59. The company’s 50-day moving average is $42.69 and its 200 day moving average is $40.54.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The company had revenue of $7.58 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same quarter in the prior year, the business posted $0.46 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 22.73%.

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.