Duquesne Family Office LLC Sells 618,030 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Duquesne Family Office LLC decreased its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 44.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 758,905 shares of the natural resource company's stock after selling 618,030 shares during the quarter. Duquesne Family Office LLC owned 0.05% of Freeport-McMoRan worth $28,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of 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 valued at $351,041,000 after purchasing an additional 6,486,011 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Freeport-McMoRan by 21.9% in the fourth 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% during the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock valued at $857,305,000 after acquiring an additional 5,001,531 shares during the period. Arrowstreet Capital Limited Partnership increased its stake 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 purchasing an additional 4,488,210 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position 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 purchasing an additional 2,515,103 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Wall Street Analysts Forecast Growth

FCX has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Argus downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. 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 report on Wednesday, April 16th. UBS Group decreased their price objective on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, StockNews.com cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Freeport-McMoRan presently has an average rating of "Moderate Buy" and an average target price of $48.09.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX traded up $0.28 during trading on Friday, hitting $37.76. The company had a trading volume of 7,295,870 shares, compared to its average volume of 13,680,268. The stock has a 50 day simple moving average of $36.29 and a 200 day simple moving average of $39.17. The firm has a market capitalization of $54.26 billion, a P/E ratio of 29.27, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. 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 Inc. has a 12 month low of $27.66 and a 12 month high of $55.24.

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

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.59%. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

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.