State of Alaska Department of Revenue Sells 19,385 Shares of Freeport-McMoRan Inc. (NYSE:FCX)
State of Alaska Department of Revenue reduced its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,620 shares of the State of Alaska Department of Revenue (NYSE:FCX) reduced its stake in Freeport-McMoRan Inc. by 9.8% during the second quarter, according to its 13F filing with the Securities & Exchange Commission. Other hedge funds have also recently made changes to their positions in the company, including America First Investment Advisors LLC and Fairfield Bush & CO. 77.96% of the stock is owned by institutional investors, and Freep-McRan has a debt-to-equity ratio of 0.36, a current ratio of 2.94 and a quick ratio of 1.72. The company recently declared a quarterly dividend, and shareholders of record will be paid a $0.15 dividend on October 13th. According to a research note, 1-800-FLOWERS.com has an "initiates" rating on shares of Freeport McMoRan.
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State of Alaska Department of Revenue reduced its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,620 shares of the natural resource company's stock after selling 19,385 shares during the quarter. State of Alaska Department of Revenue's holdings in Freeport-McMoRan were worth $7,104,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. America First Investment Advisors LLC bought a new position in Freeport-McMoRan in the 1st quarter valued at approximately $25,000. Fairfield Bush & CO. bought a new position in Freeport-McMoRan in the 1st quarter valued at approximately $26,000. KB Financial Partners LLC bought a new position in Freeport-McMoRan in the 1st quarter valued at approximately $26,000. ICA Group Wealth Management LLC bought a new position in Freeport-McMoRan in the 4th quarter valued at approximately $28,000. Finally, GPS Wealth Strategies Group LLC bought a new position in Freeport-McMoRan in the 1st quarter valued at approximately $34,000. 77.96% of the stock is owned by institutional investors.
NYSE:FCX opened at $36.67 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.94 and a quick ratio of 1.72. The firm has a market capitalization of $52.57 billion, a price-to-earnings ratio of 25.29 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 business has a fifty day moving average price of $39.62 and a 200-day moving average price of $39.09.
Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The natural resource company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Freeport-McMoRan had a return on equity of 9.45% and a net margin of 9.63%. The company had revenue of $5.74 billion during the quarter, compared to analysts' expectations of $5.61 billion. During the same quarter last year, the company earned $0.58 earnings per share. The company's revenue for the quarter was up 5.9% on a year-over-year basis. Sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 13th will be paid 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 1.64%. Freeport-McMoRan's payout ratio is presently 20.69%.
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Several research firms recently issued reports on FCX. 1-800-FLOWERS.COM reaffirmed an "initiates" rating on shares of Freeport-McMoRan in a research report on Thursday, June 29th. 3M reiterated an "initiates" rating on shares of Freeport-McMoRan in a research note on Thursday, June 29th. StockNews.com started coverage on shares of Freeport-McMoRan in a research note on Thursday. They set a "hold" rating for the company. Raymond James boosted their target price on shares of Freeport-McMoRan from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, July 21st. Finally, Scotiabank decreased their target price on shares of Freeport-McMoRan from $49.00 to $48.00 in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Freeport-McMoRan currently has a consensus rating of "Hold" and an average target price of $42.45.
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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विषय: Markets, Alaska, NYSE