Capital International Sarl Lowers Stock Holdings in Freeport-McMoRan Inc. $FCX

Capital International Sarl lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 26.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 269,439 shares of the natural resource company's stock after selling 96,867 shares during the quarter. Capital International Sarl's holdings in Freeport-McMoRan were worth $13,685,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Freeport-McMoRan by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 130,332,957 shares of the natural resource company's stock worth $6,619,611,000 after buying an additional 1,572,769 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Freeport-McMoRan by 1.0% during the fourth quarter. Fisher Asset Management LLC now owns 63,880,757 shares of the natural resource company's stock worth $3,244,504,000 after buying an additional 622,343 shares during the last quarter. State Street Corp grew its holdings in shares of Freeport-McMoRan by 1.1% during the third quarter. State Street Corp now owns 62,477,910 shares of the natural resource company's stock worth $2,450,384,000 after buying an additional 690,736 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Freeport-McMoRan by 190.9% during the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company's stock worth $1,431,326,000 after buying an additional 23,950,557 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Freeport-McMoRan by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 31,669,550 shares of the natural resource company's stock worth $1,601,087,000 after buying an additional 238,997 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $63.37 on Friday. The company has a 50-day moving average price of $63.48 and a 200 day moving average price of $58.17. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $72.09. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The company has a market cap of $91.10 billion, a P/E ratio of 33.71, a PEG ratio of 0.76 and a beta of 1.35.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period last year, the firm earned $0.24 EPS. The company's revenue for the quarter was up 8.8% on a year-over-year basis. Research analysts predict that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is presently 15.96%.

Analyst Ratings Changes

FCX has been the subject of a number of recent analyst reports. UBS Group raised their price objective on shares of Freeport-McMoRan from $74.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. CICC Research reduced their price objective on shares of Freeport-McMoRan from $64.40 to $63.40 and set an "outperform" rating for the company in a research report on Tuesday, April 28th. Freedom Capital upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Saturday, February 21st. Argus upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a research report on Friday, February 13th. Finally, Citigroup reduced their price objective on shares of Freeport-McMoRan from $67.00 to $66.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Freeport-McMoRan currently has an average rating of "Moderate Buy" and a consensus target price of $66.04.

About Freeport-McMoRan

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.

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