V Square Quantitative Management LLC Has $289,000 Stock Position in Freeport-McMoRan Inc. $FCX

V Square Quantitative Management LLC grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 29.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 6,667 shares of the natural resource company’s stock after buying an additional 1,512 shares during the quarter. V Square Quantitative Management LLC’s holdings in Freeport-McMoRan were worth $289,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. City Holding Co. acquired a new position in shares of Freeport-McMoRan during the first quarter valued at about $33,000. Dagco Inc. acquired a new position in shares of Freeport-McMoRan during the first quarter valued at about $37,000. Beacon Capital Management LLC raised its holdings in shares of Freeport-McMoRan by 59.6% during the second quarter. Beacon Capital Management LLC now owns 876 shares of the natural resource company’s stock valued at $38,000 after purchasing an additional 327 shares during the period. CKW Financial Group acquired a new position in shares of Freeport-McMoRan during the first quarter valued at about $40,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Freeport-McMoRan during the first quarter valued at about $42,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 0.3%

Shares of FCX stock opened at $39.11 on Thursday. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $51.45. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.21 and a current ratio of 2.47. The company has a 50-day simple moving average of $42.69 and a two-hundred day simple moving average of $40.54. The company has a market capitalization of $56.15 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 0.72 and a beta of 1.59.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share (EPS) 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 business had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $6.85 billion. During the same period in the prior year, the firm posted $0.46 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. Research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FCX. Citigroup upped their price objective on shares of Freeport-McMoRan from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Tuesday. BMO Capital Markets lowered their target price on shares of Freeport-McMoRan from $54.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, September 24th. Royal Bank Of Canada lowered their target price on shares of Freeport-McMoRan from $54.00 to $48.00 and set a “sector perform” rating on the stock in a report on Wednesday. Finally, UBS Group lowered their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.49.

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.