4,706 Shares in Freeport-McMoRan Inc. $FCX Acquired by Interchange Capital Partners LLC

Interchange Capital Partners LLC bought a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,706 shares of the natural resource company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FCX. Dagco Inc. acquired a new stake in Freeport-McMoRan in the first quarter valued at approximately $37,000. Beacon Capital Management LLC grew its position in Freeport-McMoRan by 59.6% in the second quarter. Beacon Capital Management LLC now owns 876 shares of the natural resource company’s stock valued at $38,000 after acquiring an additional 327 shares in the last quarter. CKW Financial Group acquired a new stake in Freeport-McMoRan in the first quarter valued at approximately $40,000. Greykasell Wealth Strategies Inc. acquired a new stake in Freeport-McMoRan in the first quarter valued at approximately $42,000. Finally, Hilltop National Bank acquired a new stake in Freeport-McMoRan in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on FCX shares. Dbs Bank lowered their price objective on shares of Freeport-McMoRan from $51.00 to $48.00 in a research report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Freeport-McMoRan from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Stifel Canada raised shares of Freeport-McMoRan to a “strong-buy” rating in a research report on Tuesday, July 8th. Sanford C. Bernstein decreased their price target on shares of Freeport-McMoRan from $48.50 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. Finally, Scotiabank raised their price target on shares of Freeport-McMoRan from $45.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 14th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.92.

Freeport-McMoRan Stock Up 0.3%

FCX stock opened at $41.34 on Monday. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $49.21. The company has a current ratio of 2.45, a quick ratio of 1.19 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $59.36 billion, a P/E ratio of 29.12, a PEG ratio of 0.95 and a beta of 1.58. The firm has a 50 day simple moving average of $42.55 and a 200-day simple moving average of $41.10.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The firm had revenue of $6.97 billion for the quarter, compared to analysts’ expectations of $6.74 billion. During the same period last year, the business posted $0.38 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, October 15th. This represents a $0.60 annualized dividend and a yield of 1.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is 21.13%.

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.