Railway Pension Investments Ltd Purchases 153,300 Shares of Freeport-McMoRan Inc. $FCX

Railway Pension Investments Ltd increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 8.1% during the second quarter, Holdings Channel.com reports. The firm owned 2,035,700 shares of the natural resource company’s stock after buying an additional 153,300 shares during the quarter. Freeport-McMoRan accounts for approximately 1.2% of Railway Pension Investments Ltd’s holdings, making the stock its 26th biggest position. Railway Pension Investments Ltd’s holdings in Freeport-McMoRan were worth $88,248,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Portside Wealth Group LLC grew its holdings in shares of Freeport-McMoRan by 0.8% during the second quarter. Portside Wealth Group LLC now owns 30,333 shares of the natural resource company’s stock valued at $1,315,000 after buying an additional 245 shares during the last quarter. Waterloo Capital L.P. lifted its position in Freeport-McMoRan by 3.9% in the 2nd quarter. Waterloo Capital L.P. now owns 6,658 shares of the natural resource company’s stock valued at $289,000 after acquiring an additional 251 shares in the last quarter. Strengthening Families & Communities LLC boosted its stake in Freeport-McMoRan by 0.6% during the 2nd quarter. Strengthening Families & Communities LLC now owns 42,617 shares of the natural resource company’s stock valued at $1,822,000 after purchasing an additional 261 shares during the last quarter. CVA Family Office LLC increased its holdings in Freeport-McMoRan by 21.3% during the 2nd quarter. CVA Family Office LLC now owns 1,527 shares of the natural resource company’s stock worth $66,000 after purchasing an additional 268 shares in the last quarter. Finally, Cypress Wealth Services LLC raised its stake in shares of Freeport-McMoRan by 4.6% in the second quarter. Cypress Wealth Services LLC now owns 6,230 shares of the natural resource company’s stock worth $270,000 after purchasing an additional 273 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $42.91 on Friday. The company has a market capitalization of $61.61 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 0.94 and a beta of 1.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 2.45. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $49.12. The company has a 50-day simple moving average of $40.75 and a 200 day simple moving average of $41.99.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%. The firm had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.74 billion. During the same period in the prior year, the firm earned $0.38 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 21.13%.

Analyst Ratings Changes

FCX has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freeport-McMoRan in a research report on Wednesday, October 8th. Johnson Rice dropped their price objective on Freeport-McMoRan from $55.00 to $48.00 in a research note on Monday, September 29th. Sanford C. Bernstein cut their price objective on shares of Freeport-McMoRan from $48.50 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Wells Fargo & Company upgraded shares of Freeport-McMoRan to a “strong-buy” rating in a report on Wednesday, October 8th. Finally, Clarkson Capital raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Wednesday, November 19th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $46.73.

About Freeport-McMoRan

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.