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

Duquesne Family Office LLC trimmed its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 44.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 758,905 shares of the natural resource company's stock after selling 618,030 shares during the period. Duquesne Family Office LLC owned approximately 0.05% of Freeport-McMoRan worth $28,899,000 at the end of the most recent quarter.

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

Freeport-McMoRan Stock Up 0.2 %

FCX traded up $0.07 during trading on Friday, hitting $37.55. 639,295 shares of the company's stock were exchanged, compared to its average volume of 13,644,519. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $55.24. The stock has a market cap of $53.96 billion, a P/E ratio of 29.11, a PEG ratio of 0.87 and a beta of 1.65. The business's 50 day moving average is $36.24 and its two-hundred day moving average is $39.30. 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 (NYSE:FCX - Get Free Report) last announced its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The company's revenue was down 9.4% compared to the same quarter last year. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is 24.79%.

Analyst Ratings Changes

Several research firms have commented on FCX. Raymond James reaffirmed an "outperform" rating and issued a $52.00 target price on shares of Freeport-McMoRan in a research note on Friday, April 25th. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price for the company in a research note on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 target price for the company in a research report on Thursday, March 6th. UBS Group reduced their target price 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, BMO Capital Markets decreased their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan has an average rating of "Moderate Buy" and an average price target of $48.09.

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.