Quantinno Capital Management LP Has $6.52 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Quantinno Capital Management LP raised its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 14.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,504 shares of the natural resource company's stock after purchasing an additional 16,166 shares during the quarter. Quantinno Capital Management LP's holdings in Freeport-McMoRan were worth $6,515,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Matrix Trust Co purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter valued at about $25,000. Spectrum Wealth Counsel LLC purchased a new stake in Freeport-McMoRan during the 2nd quarter worth approximately $25,000. Hazlett Burt & Watson Inc. grew its position in shares of Freeport-McMoRan by 1,170.7% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 521 shares of the natural resource company's stock worth $25,000 after acquiring an additional 480 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Freeport-McMoRan during the 2nd quarter valued at approximately $27,000. Finally, Godsey & Gibb Inc. boosted its position in Freeport-McMoRan by 150.4% during the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company's stock valued at $29,000 after purchasing an additional 346 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

Shares of FCX stock traded down $0.72 during trading on Friday, hitting $42.07. The company had a trading volume of 9,468,947 shares, compared to its average volume of 11,588,606. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. The firm has a market capitalization of $60.45 billion, a P/E ratio of 30.71, a price-to-earnings-growth ratio of 16.98 and a beta of 1.86. The stock's 50-day moving average price is $46.27 and its 200 day moving average price is $46.53. Freeport-McMoRan Inc. has a one year low of $36.04 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly 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. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The company had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.45 billion. During the same period in the prior year, the company earned $0.39 EPS. Freeport-McMoRan's revenue was up 16.6% compared to the same quarter last year. Equities analysts expect that Freeport-McMoRan Inc. will post 1.5 EPS for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.71%. Freeport-McMoRan's payout ratio is 21.90%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FCX. UBS Group raised Freeport-McMoRan from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $54.00 to $55.00 in a research note on Wednesday, September 4th. StockNews.com downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Thursday, September 26th. JPMorgan Chase & Co. boosted their target price on Freeport-McMoRan from $53.00 to $55.00 and gave the company a "neutral" rating in a research note on Tuesday, October 15th. Raymond James boosted their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley decreased their price target on Freeport-McMoRan from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.92.

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.