Hantz Financial Services Inc. Sells 45,789 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Hantz Financial Services Inc. lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 39.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,634 shares of the natural resource company’s stock after selling 45,789 shares during the period. Hantz Financial Services Inc.’s holdings in Freeport-McMoRan were worth $3,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in FCX. Los Angeles Capital Management LLC increased its position in shares of Freeport-McMoRan by 423.5% during the third quarter. Los Angeles Capital Management LLC now owns 2,788,111 shares of the natural resource company’s stock worth $139,183,000 after purchasing an additional 2,255,529 shares in the last quarter. Capital Wealth Planning LLC raised its stake in Freeport-McMoRan by 34.9% in the second quarter. Capital Wealth Planning LLC now owns 5,943,074 shares of the natural resource company’s stock valued at $288,833,000 after buying an additional 1,538,560 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Freeport-McMoRan by 2.4% in the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock worth $2,965,717,000 after acquiring an additional 1,392,494 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Freeport-McMoRan by 5,249.5% during the third quarter. International Assets Investment Management LLC now owns 1,341,335 shares of the natural resource company’s stock valued at $66,959,000 after acquiring an additional 1,316,261 shares in the last quarter. Finally, Wulff Hansen & CO. raised its position in shares of Freeport-McMoRan by 4,760.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,198,233 shares of the natural resource company’s stock valued at $58,234,000 after purchasing an additional 1,173,578 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FCX has been the topic of a number of recent analyst reports. Raymond James upped their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Scotiabank dropped their price target on Freeport-McMoRan from $53.00 to $52.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley reduced their price objective 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. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, UBS Group raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and raised their price target for the stock from $54.00 to $55.00 in a research report on Wednesday, September 4th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $44.20 on Friday. The stock has a market capitalization of $63.51 billion, a P/E ratio of 32.26, a P/E/G ratio of 17.26 and a beta of 1.91. Freeport-McMoRan Inc. has a 1 year low of $36.04 and a 1 year high of $55.24. 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 company’s fifty day moving average price is $46.87 and its 200 day moving average price is $46.89.

Freeport-McMoRan (NYSE:FCX) last posted 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. 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 for the quarter, compared to the consensus estimate of $6.45 billion. During the same period last year, the firm posted $0.39 EPS. The company’s revenue was up 16.6% on a year-over-year basis. As a group, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.5 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders 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 dividend yield of 0.68%. 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.