Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Marshall Wace LLP

Marshall Wace LLP lowered its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 16.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,261,536 shares of the natural resource company's stock after selling 451,975 shares during the quarter. Marshall Wace LLP owned about 0.16% of Freeport-McMoRan worth $86,119,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $25,000. Mizuho Bank Ltd. purchased a new position in Freeport-McMoRan in the fourth quarter valued at about $26,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan during the fourth quarter worth $27,000. Laurel Wealth Advisors LLC boosted its holdings in shares of Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth $28,000 after buying an additional 600 shares during the period. Finally, Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter worth $28,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Analyst Upgrades and Downgrades

FCX has been the topic of several research reports. Wolfe Research upgraded shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target on the stock in a research report on Wednesday, April 16th. StockNews.com cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. UBS Group reduced their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a research note on Thursday, March 6th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $48.39.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX traded down $0.27 during mid-day trading on Monday, reaching $32.63. 6,514,616 shares of the company traded hands, compared to its average volume of 13,859,656. The firm has a market cap of $46.89 billion, a PE ratio of 25.29, a PEG ratio of 0.87 and a beta of 1.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The company's 50 day moving average price is $36.66 and its 200-day moving average price is $40.38. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $55.24.

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

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's payout ratio is 23.26%.

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.