1,001 Shares in Freeport-McMoRan Inc. $FCX Purchased by Hilltop National Bank

Hilltop National Bank bought a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,001 shares of the natural resource company’s stock, valued at approximately $43,000.

Several other large investors have also modified their holdings of the business. City Holding Co. purchased a new stake in shares of Freeport-McMoRan in the 1st quarter worth approximately $33,000. Dagco Inc. bought a new position in Freeport-McMoRan in the first quarter worth approximately $37,000. Beacon Capital Management LLC raised its stake 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 worth $38,000 after buying an additional 327 shares in the last quarter. CKW Financial Group purchased a new stake in Freeport-McMoRan during the first quarter worth $40,000. Finally, Greykasell Wealth Strategies Inc. bought a new stake in Freeport-McMoRan during the 1st quarter valued at $42,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

FCX opened at $40.35 on Tuesday. The company has a market cap of $57.93 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 0.87 and a beta of 1.58. The company has a quick ratio of 1.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average price is $42.40 and its 200-day moving average price is $40.54. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $51.19.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $6.85 billion. During the same quarter in the previous year, the firm earned $0.46 EPS. Freeport-McMoRan’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS 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. Investors of record on Wednesday, October 15th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend 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%.

Analysts Set New Price Targets

Several research firms have recently commented on FCX. Royal Bank Of Canada reduced their price target on Freeport-McMoRan from $54.00 to $48.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 1st. Hsbc Global Res downgraded shares of Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 22nd. Jefferies Financial Group reissued a “buy” rating and set a $46.00 price target on shares of Freeport-McMoRan in a research report on Wednesday, September 24th. HSBC cut their price objective on shares of Freeport-McMoRan from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Thursday, September 25th. Finally, Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and set a $48.50 target price for the company in a research report on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $46.74.

Freeport-McMoRan Company 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.