Lansdowne Partners UK LLP Cuts Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Lansdowne Partners UK LLP cut its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 82.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 278,962 shares of the natural resource company's stock after selling 1,306,409 shares during the quarter. Freeport-McMoRan comprises about 0.8% of Lansdowne Partners UK LLP's holdings, making the stock its 13th largest position. Lansdowne Partners UK LLP's holdings in Freeport-McMoRan were worth $10,623,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP grew its holdings in Freeport-McMoRan by 237.4% during the 4th quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company's stock worth $351,041,000 after acquiring an additional 6,486,011 shares during the period. Amundi grew its stake in Freeport-McMoRan by 30.2% during the fourth quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock worth $857,305,000 after purchasing an additional 5,001,531 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Freeport-McMoRan by 38.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company's stock worth $619,682,000 after purchasing an additional 4,488,210 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Freeport-McMoRan by 142.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company's stock valued at $162,964,000 after buying an additional 2,515,103 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Freeport-McMoRan by 9.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company's stock worth $1,348,522,000 after buying an additional 2,366,187 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

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Freeport-McMoRan Stock Down 1.2 %

Freeport-McMoRan stock traded down $0.41 during trading on Tuesday, hitting $33.34. 18,738,098 shares of the company were exchanged, compared to its average volume of 13,913,879. The company has a market capitalization of $47.91 billion, a P/E ratio of 25.85, a PEG ratio of 0.87 and a beta of 1.71. The business's 50 day moving average is $36.96 and its 200 day moving average is $40.81. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan's payout ratio is 23.26%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FCX shares. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and boosted their target price for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Scotiabank dropped their price objective on shares of Freeport-McMoRan from $45.00 to $40.00 and set a "sector perform" rating on the stock in a report on Monday, April 7th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. BMO Capital Markets decreased their target price on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Finally, Raymond James upped their price target on Freeport-McMoRan from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and an average target price of $49.12.

Freeport-McMoRan Company 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.