Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Dupont Capital Management Corp

Dupont Capital Management Corp cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 224,789 shares of the natural resource company’s stock after selling 5,846 shares during the period. Dupont Capital Management Corp’s holdings in Freeport-McMoRan were worth $9,569,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FCX. Price T Rowe Associates Inc. MD grew its holdings in shares of Freeport-McMoRan by 102.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,698,016 shares of the natural resource company’s stock valued at $355,838,000 after buying an additional 4,410,429 shares during the last quarter. Capital Wealth Planning LLC purchased a new stake in shares of Freeport-McMoRan during the third quarter valued at $160,160,000. Mizuho Markets Americas LLC purchased a new stake in shares of Freeport-McMoRan during the third quarter valued at $141,407,000. Imprint Wealth LLC grew its holdings in shares of Freeport-McMoRan by 1,678.9% during the second quarter. Imprint Wealth LLC now owns 2,098,587 shares of the natural resource company’s stock valued at $209,859,000 after buying an additional 1,980,616 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd grew its holdings in shares of Freeport-McMoRan by 57.4% during the third quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock valued at $201,039,000 after buying an additional 1,965,987 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Up 2.3 %

Shares of Freeport-McMoRan stock opened at $48.40 on Wednesday. The firm has a 50-day simple moving average of $40.82 and a two-hundred day simple moving average of $38.81. The company has a market cap of $69.43 billion, a P/E ratio of 38.11 and a beta of 2.04. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $48.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.38 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCXGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.85 billion. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, equities analysts predict that Freeport-McMoRan Inc. will post 1.57 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a $0.15 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.24%. Freeport-McMoRan’s dividend payout ratio (DPR) is 23.62%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Eight Capital set a $55.00 price target on shares of Freeport-McMoRan and gave the company a “buy” rating in a report on Wednesday, December 6th. UBS Group lowered their price target on shares of Freeport-McMoRan from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday, December 13th. Raymond James upped their price target on shares of Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and upped their price target for the company from $41.00 to $48.50 in a report on Monday, January 8th. Finally, Morgan Stanley lowered their price target on shares of Freeport-McMoRan from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, December 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Freeport-McMoRan has a consensus rating of “Hold” and an average target price of $44.95.

Get Our Latest Analysis on FCX

Freeport-McMoRan Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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