Souders Financial Advisors Has $4.54 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Souders Financial Advisors boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 440.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,919 shares of the natural resource company's stock after purchasing an additional 74,100 shares during the period. Souders Financial Advisors' holdings in Freeport-McMoRan were worth $4,539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FCX. Deane Retirement Strategies Inc. increased its position in shares of Freeport-McMoRan by 0.4% during the third quarter. Deane Retirement Strategies Inc. now owns 47,144 shares of the natural resource company's stock valued at $2,357,000 after acquiring an additional 201 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in Freeport-McMoRan by 4.3% during the first quarter. Kingsview Wealth Management LLC now owns 5,243 shares of the natural resource company's stock worth $247,000 after purchasing an additional 214 shares in the last quarter. Koshinski Asset Management Inc. grew its stake in shares of Freeport-McMoRan by 1.0% in the third quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company's stock valued at $1,037,000 after buying an additional 214 shares in the last quarter. Trust Co. of Vermont raised its holdings in shares of Freeport-McMoRan by 5.2% in the 3rd quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company's stock valued at $228,000 after buying an additional 228 shares during the period. Finally, Fidelis Capital Partners LLC boosted its holdings in Freeport-McMoRan by 2.0% during the 3rd quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company's stock valued at $560,000 after acquiring an additional 231 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Down 0.9 %

NYSE FCX traded down $0.41 during trading hours on Wednesday, reaching $43.19. 7,286,750 shares of the company traded hands, compared to its average volume of 12,915,282. The company has a 50 day moving average of $46.51 and a two-hundred day moving average of $47.49. The stock has a market capitalization of $62.06 billion, a PE ratio of 31.69, a PEG ratio of 1.88 and a beta of 1.91. Freeport-McMoRan Inc. has a 12 month low of $34.55 and a 12 month high of $55.24. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31.

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

Freeport-McMoRan Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th were issued 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 dividend payout ratio (DPR) is 21.90%.

Analyst Ratings Changes

A number of analysts have issued reports on FCX shares. UBS Group upgraded shares of Freeport-McMoRan from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $54.00 to $55.00 in a research note on Wednesday, September 4th. JPMorgan Chase & Co. raised their price target on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, October 15th. Morgan Stanley cut their price objective on Freeport-McMoRan from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, September 19th. Raymond James boosted their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Scotiabank lowered their price objective on Freeport-McMoRan from $53.00 to $52.00 and set a "sector perform" rating for the company in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus target price of $54.00.

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.