Dupont Capital Management Corp Increases Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Dupont Capital Management Corp grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 7.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 229,893 shares of the natural resource company's stock after buying an additional 16,002 shares during the period. Dupont Capital Management Corp's holdings in Freeport-McMoRan were worth $8,704,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Freeport-McMoRan by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company's stock valued at $4,692,191,000 after acquiring an additional 642,776 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Freeport-McMoRan by 21.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock valued at $1,214,203,000 after acquiring an additional 5,735,171 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Freeport-McMoRan by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company's stock valued at $1,122,922,000 after acquiring an additional 688,240 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Freeport-McMoRan by 8.0% during the 4th quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company's stock valued at $1,123,445,000 after acquiring an additional 2,191,926 shares in the last quarter. Finally, Capital World Investors lifted its holdings in shares of Freeport-McMoRan by 3.2% during the 4th quarter. Capital World Investors now owns 24,055,524 shares of the natural resource company's stock valued at $916,037,000 after acquiring an additional 750,500 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FCX has been the topic of several recent research reports. Hsbc Global Res upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Jefferies Financial Group reiterated a "buy" rating and issued a $50.00 price objective (up previously from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. Wall Street Zen lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. UBS Group cut their price objective on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $52.00 price objective on shares of Freeport-McMoRan in a report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan currently has an average rating of "Moderate Buy" and an average target price of $48.27.

Insider Buying and Selling

In related news, CAO Ellie L. Mikes sold 8,584 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $40.02, for a total transaction of $343,531.68. Following the sale, the chief accounting officer now owns 48,333 shares in the company, valued at $1,934,286.66. This represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is owned by company insiders.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $40.18 on Friday. The firm has a market cap of $57.74 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64. The firm's 50-day simple moving average is $38.28 and its 200-day simple moving average is $38.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.13 and a current ratio of 2.32. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $52.61.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. The company's revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS. Equities 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 disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.49%. Freeport-McMoRan's dividend payout ratio (DPR) is 24.79%.

About Freeport-McMoRan

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.

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