Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Aquatic Capital Management LLC

Aquatic Capital Management LLC cut its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 37.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 117,870 shares of the natural resource company's stock after selling 69,530 shares during the period. Aquatic Capital Management LLC's holdings in Freeport-McMoRan were worth $4,488,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Freeport-McMoRan by 237.4% in 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 purchasing an additional 6,486,011 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Freeport-McMoRan by 21.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock worth $1,214,203,000 after buying an additional 5,735,171 shares during the period. Amundi boosted its holdings in Freeport-McMoRan by 30.2% in the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock worth $857,305,000 after buying an additional 5,001,531 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Freeport-McMoRan by 38.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company's stock worth $619,682,000 after buying an additional 4,488,210 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Freeport-McMoRan by 142.5% in 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 buying an additional 2,515,103 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Up 1.1 %

FCX traded up $0.41 during trading on Thursday, hitting $36.44. 11,609,778 shares of the stock were exchanged, compared to its average volume of 13,799,440. The firm has a 50 day simple moving average of $36.19 and a 200 day simple moving average of $39.75. The firm has a market cap of $52.37 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Freeport-McMoRan's quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.65%. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $50.00 target price (up previously from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a research note on Thursday, March 6th. Argus lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Finally, StockNews.com lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus target price of $48.09.

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.