WINTON GROUP Ltd Sells 20,026 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

WINTON GROUP Ltd cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 39.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,862 shares of the natural resource company's stock after selling 20,026 shares during the quarter. WINTON GROUP Ltd's holdings in Freeport-McMoRan were worth $1,175,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FCX. Mountaineer Partners Management LLC grew its holdings in Freeport-McMoRan by 4,767.8% during the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company's stock valued at $595,702,000 after purchasing an additional 11,687,982 shares during the period. Amundi lifted its position in shares of Freeport-McMoRan by 30.2% during the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock valued at $857,305,000 after buying an additional 5,001,531 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Freeport-McMoRan by 142.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company's stock worth $162,964,000 after acquiring an additional 2,515,103 shares during the period. Franklin Resources Inc. increased its holdings in Freeport-McMoRan by 9.5% in 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 acquiring an additional 2,366,187 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Freeport-McMoRan by 136.0% in the 3rd quarter. National Bank of Canada FI now owns 1,635,724 shares of the natural resource company's stock valued at $81,655,000 after acquiring an additional 942,701 shares during the period. 80.77% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $48.00 to $52.00 in a research note on Thursday, March 20th. Argus cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. StockNews.com lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Thursday, March 20th. Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and lifted their price target for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a report on Thursday, March 6th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Freeport-McMoRan has a consensus rating of "Moderate Buy" and an average price target of $52.04.

Freeport-McMoRan Price Performance

Shares of NYSE FCX traded down $0.57 during mid-day trading on Monday, reaching $37.85. 17,458,934 shares of the company were exchanged, compared to its average volume of 13,429,201. The stock has a market capitalization of $54.39 billion, a PE ratio of 29.34, a PEG ratio of 0.87 and a beta of 1.87. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24. The company's 50 day moving average price is $38.14 and its 200 day moving average price is $41.98.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (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%. Sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is presently 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.