15,113 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB bought a new position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 15,113 shares of the natural resource company's stock, valued at approximately $754,000.

Several other large investors also recently made changes to their positions in the business. Easterly Investment Partners LLC lifted its holdings in Freeport-McMoRan by 137.5% in the third quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company's stock worth $7,375,000 after acquiring an additional 85,542 shares during the last quarter. Summit Global Investments lifted its holdings in Freeport-McMoRan by 1,559.3% in the 3rd quarter. Summit Global Investments now owns 76,493 shares of the natural resource company's stock valued at $3,819,000 after acquiring an additional 71,883 shares during the last quarter. AIA Group Ltd grew its position in Freeport-McMoRan by 16.2% in the third quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company's stock worth $4,604,000 after buying an additional 12,887 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Freeport-McMoRan by 9.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company's stock worth $8,219,000 after acquiring an additional 14,501 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its holdings in shares of Freeport-McMoRan by 33.3% during the third quarter. NorthCrest Asset Manangement LLC now owns 432,126 shares of the natural resource company's stock valued at $21,572,000 after purchasing an additional 107,852 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock traded down $0.86 during midday trading on Monday, reaching $40.74. The company's stock had a trading volume of 10,231,000 shares, compared to its average volume of 12,784,901. The business has a 50-day moving average price of $45.51 and a 200-day moving average price of $46.10. The stock has a market cap of $58.53 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 3.00 and a beta of 1.86. 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 Inc. has a 52 week low of $36.26 and a 52 week 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The firm 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 posted $0.39 EPS. The company's revenue was up 16.6% on a year-over-year basis. On average, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.49 EPS for the current year.

Freeport-McMoRan Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 15th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.74%. The ex-dividend date was Tuesday, October 15th. Freeport-McMoRan's dividend payout ratio (DPR) is presently 21.90%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Thursday, September 26th. Scotiabank decreased their price objective on shares of Freeport-McMoRan from $53.00 to $52.00 and set a "sector perform" rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on Freeport-McMoRan from $53.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 15th. Morgan Stanley reduced their price target on shares of Freeport-McMoRan from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, September 19th. Finally, Raymond James raised their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Six equities research 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $53.92.

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.