Ameritas Advisory Services LLC Cuts Holdings in Freeport-McMoRan Inc. (NYSE:FCX)
Ameritas Advisory Services LLC reduced its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 81.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,283 shares of the natural resource company's stock after selling 3 Ameritas Advisory Services LLC reduced its position in Freeport-McMoRan Inc. (NYSE:FCX) by 81.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. Other large investors have also made changes to their positions in the company, including America First Investment Advisors LLC and Fairfield Bush & CO acquiring a new stake in shares worth $25,000 and GPS Wealth Strategies Group LLC acquiring anew stake in FreetraRan in the 1st quarter valued at $34,000. FreetroRan last posted its quarterly earnings results on Thursday, July 20th, missing analysts' consensus estimates of $0.36 by ($0.01). The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.72 and a current ratio of 2.94. StockNews.com has given the company a "hold" rating for the company and have given a buy to the average buy rating.
Veröffentlicht : vor 2 Jahren durch MarketBeat in Finance
Ameritas Advisory Services LLC reduced its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 81.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,283 shares of the natural resource company's stock after selling 31,068 shares during the quarter. Ameritas Advisory Services LLC's holdings in Freeport-McMoRan were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. America First Investment Advisors LLC purchased a new position in shares of Freeport-McMoRan in the 1st quarter worth $25,000. Fairfield Bush & CO. acquired a new stake in Freeport-McMoRan in the 1st quarter valued at $26,000. KB Financial Partners LLC acquired a new stake in Freeport-McMoRan in the 1st quarter valued at $26,000. ICA Group Wealth Management LLC acquired a new stake in Freeport-McMoRan in the 4th quarter valued at $28,000. Finally, GPS Wealth Strategies Group LLC acquired a new stake in Freeport-McMoRan in the 1st quarter valued at $34,000. 77.96% of the stock is owned by hedge funds and other institutional investors.
NYSE:FCX opened at $36.83 on Tuesday. The company has a market capitalization of $52.80 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 6.36 and a beta of 2.06. Freeport-McMoRan Inc. has a one year low of $27.50 and a one year high of $46.73. The stock has a 50-day simple moving average of $39.47 and a 200 day simple moving average of $39.09. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.72 and a current ratio of 2.94.
Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings results on Thursday, July 20th. The natural resource company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.61 billion. Freeport-McMoRan had a return on equity of 9.45% and a net margin of 9.63%. The firm's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.58 earnings per share. Sell-side analysts predict that Freeport-McMoRan Inc. will post 1.6 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 13th will be issued a $0.15 dividend. The ex-dividend date is Thursday, October 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.63%. Freeport-McMoRan's dividend payout ratio is currently 20.69%.
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FCX has been the subject of several recent research reports. StockNews.com initiated coverage on Freeport-McMoRan in a report on Thursday, October 5th. They issued a "hold" rating for the company. 3M reiterated an "initiates" rating on shares of Freeport-McMoRan in a report on Thursday, June 29th. Sanford C. Bernstein initiated coverage on Freeport-McMoRan in a report on Thursday, June 29th. They issued a "market perform" rating and a $41.00 price target for the company. Raymond James increased their price target on Freeport-McMoRan from $43.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, July 21st. Finally, Scotiabank lowered their target price on Freeport-McMoRan from $49.00 to $48.00 in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $42.45.
Check Out Our Latest Stock Analysis on 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, as well as oil and gas. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.
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