Mirador Capital Partners LP Has $4.41 Million Holdings in Freeport-McMoRan Inc. $FCX

Mirador Capital Partners LP grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 51.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,472 shares of the natural resource company’s stock after buying an additional 38,422 shares during the quarter. Mirador Capital Partners LP’s holdings in Freeport-McMoRan were worth $4,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Freeport-McMoRan by 1.6% during the second quarter. Vanguard Group Inc. now owns 126,983,947 shares of the natural resource company’s stock valued at $5,504,754,000 after acquiring an additional 1,941,662 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Freeport-McMoRan by 3.2% during the 2nd quarter. Fisher Asset Management LLC now owns 62,358,715 shares of the natural resource company’s stock worth $2,703,250,000 after purchasing an additional 1,926,493 shares during the last quarter. State Street Corp raised its holdings in shares of Freeport-McMoRan by 0.5% during the 2nd quarter. State Street Corp now owns 61,787,174 shares of the natural resource company’s stock valued at $2,678,474,000 after purchasing an additional 320,514 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Freeport-McMoRan by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,547,489 shares of the natural resource company’s stock valued at $1,421,549,000 after purchasing an additional 5,661,958 shares during the last quarter. Finally, Amundi boosted its holdings in Freeport-McMoRan by 28.1% in the first quarter. Amundi now owns 27,635,497 shares of the natural resource company’s stock worth $1,046,280,000 after purchasing an additional 6,054,537 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

FCX opened at $47.55 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 2.45 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average price is $42.20 and its two-hundred day moving average price is $42.60. The firm has a market capitalization of $68.27 billion, a P/E ratio of 33.48, a price-to-earnings-growth ratio of 1.07 and a beta of 1.49. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $49.12.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. The company had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $6.74 billion. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.Freeport-McMoRan’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. On average, equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.3%. Freeport-McMoRan’s dividend payout ratio is 21.13%.

Insider Buying and Selling at Freeport-McMoRan

In related news, CAO Stephen T. Higgins sold 28,423 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $47.99, for a total value of $1,364,019.77. Following the completion of the sale, the chief accounting officer owned 105,294 shares in the company, valued at approximately $5,053,059.06. This trade represents a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ellie L. Mikes sold 9,572 shares of Freeport-McMoRan stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $47.66, for a total value of $456,201.52. Following the sale, the chief accounting officer directly owned 38,761 shares in the company, valued at approximately $1,847,349.26. This trade represents a 19.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Scotiabank upgraded Freeport-McMoRan from a “sector perform” rating to a “sector outperform” rating and cut their target price for the company from $51.00 to $47.00 in a report on Wednesday, November 19th. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, September 30th. Johnson Rice reduced their target price on Freeport-McMoRan from $55.00 to $48.00 in a report on Monday, September 29th. Jefferies Financial Group increased their price target on Freeport-McMoRan from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, December 8th. Finally, BNP Paribas Exane dropped their price target on shares of Freeport-McMoRan from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, December 5th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $49.11.

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.