Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Intrepid Capital Management Inc.

Intrepid Capital Management Inc. boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 14.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,924 shares of the natural resource company’s stock after buying an additional 5,280 shares during the quarter. Freeport-McMoRan makes up 1.1% of Intrepid Capital Management Inc.’s holdings, making the stock its 29th biggest position. Intrepid Capital Management Inc.’s holdings in Freeport-McMoRan were worth $2,043,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Management Corp of Ontario grew its position in Freeport-McMoRan by 49.6% during the third quarter. Investment Management Corp of Ontario now owns 47,663 shares of the natural resource company’s stock valued at $2,379,000 after buying an additional 15,800 shares during the period. Janus Henderson Group PLC grew its position in shares of Freeport-McMoRan by 9.3% in the third quarter. Janus Henderson Group PLC now owns 5,172,219 shares of the natural resource company’s stock valued at $258,193,000 after purchasing an additional 440,580 shares during the period. Hilltop Holdings Inc. acquired a new stake in shares of Freeport-McMoRan in the third quarter valued at about $641,000. Holocene Advisors LP grew its position in shares of Freeport-McMoRan by 23.6% in the third quarter. Holocene Advisors LP now owns 2,222,580 shares of the natural resource company’s stock valued at $110,951,000 after purchasing an additional 424,718 shares during the period. Finally, Community Bank N.A. grew its position in shares of Freeport-McMoRan by 22.0% in the third quarter. Community Bank N.A. now owns 25,879 shares of the natural resource company’s stock valued at $1,292,000 after purchasing an additional 4,659 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 0.8 %

FCX stock traded up $0.33 during trading on Tuesday, reaching $43.97. 1,122,557 shares of the stock were exchanged, compared to its average volume of 12,770,665. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $46.87 and a 200-day moving average price of $46.80. Freeport-McMoRan Inc. has a 1 year low of $36.04 and a 1 year high of $55.24. The firm has a market capitalization of $63.18 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 17.44 and a beta of 1.86.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS 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 the consensus estimate of $6.45 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. Freeport-McMoRan’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, research analysts predict that Freeport-McMoRan Inc. will post 1.5 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 yield of 0.68%. The ex-dividend date was Tuesday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 21.90%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley dropped their target price on shares of 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 lifted their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Scotiabank dropped their target price on shares of Freeport-McMoRan from $53.00 to $52.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price 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. Finally, StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Six research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

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.