B. Metzler seel. Sohn & Co. Holding AG Makes New $3.02 Million Investment in Freeport-McMoRan Inc. (NYSE:FCX)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 60,426 shares of the natural resource company's stock, valued at approximately $3,016,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hazlett Burt & Watson Inc. raised its position in shares of Freeport-McMoRan by 1,170.7% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 521 shares of the natural resource company's stock valued at $25,000 after buying an additional 480 shares in the last quarter. Spectrum Wealth Counsel LLC bought a new stake in Freeport-McMoRan during the second quarter worth about $25,000. Matrix Trust Co purchased a new position in shares of Freeport-McMoRan in the 3rd quarter worth about $25,000. LRI Investments LLC bought a new position in shares of Freeport-McMoRan during the 1st quarter valued at about $26,000. Finally, Lynx Investment Advisory purchased a new position in shares of Freeport-McMoRan during the 2nd quarter valued at about $26,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on FCX shares. Scotiabank cut their target price on Freeport-McMoRan from $53.00 to $52.00 and set a "sector perform" rating for the company in a research note on Wednesday, October 23rd. StockNews.com cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. lifted their target price on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 15th. Royal Bank of Canada restated a "sector perform" rating and set a $60.00 price target on shares of Freeport-McMoRan in a research report on Wednesday, July 24th. Finally, Morgan Stanley reduced their price objective on Freeport-McMoRan from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, September 19th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.

Freeport-McMoRan Trading Down 1.0 %

FCX opened at $43.70 on Thursday. Freeport-McMoRan Inc. has a one year low of $36.04 and a one year high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. The business has a 50 day simple moving average of $46.82 and a two-hundred day simple moving average of $47.22. The firm has a market capitalization of $62.79 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 1.90 and a beta of 1.91.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.01. The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.45 billion. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The firm's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share. Analysts predict that Freeport-McMoRan Inc. will post 1.51 EPS for the current year.

Freeport-McMoRan Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Tuesday, October 15th. Freeport-McMoRan's payout ratio is 21.90%.

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.