Freeport-McMoRan Inc. $FCX Stock Holdings Lifted by Lansdowne Partners UK LLP

Key Points

• Lansdowne Partners UK LLP increased its stake in Freeport-McMoRan by 100.1%, owning 558,290 shares valued at approximately $21.14 million, making it the 8th largest holding in their portfolio.
• Freeport-McMoRan recently reported earnings of $0.54 per share, exceeding analysts' expectations, with revenue rising 14.5% year-over-year to $7.58 billion.
• The company declared a quarterly dividend of $0.15, resulting in a 1.4% annualized yield, with a payout ratio of 22.73%.

Lansdowne Partners UK LLP grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 100.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 558,290 shares of the natural resource company's stock after purchasing an additional 279,328 shares during the quarter. Freeport-McMoRan comprises approximately 3.0% of Lansdowne Partners UK LLP's portfolio, making the stock its 8th biggest holding. Lansdowne Partners UK LLP's holdings in Freeport-McMoRan were worth $21,137,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of Freeport-McMoRan by 24.2% in the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock valued at $564,000 after acquiring an additional 2,882 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of Freeport-McMoRan by 27.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company's stock valued at $20,565,000 after acquiring an additional 115,552 shares during the period. AQR Capital Management LLC boosted its position in shares of Freeport-McMoRan by 127.8% in the fourth quarter. AQR Capital Management LLC now owns 792,901 shares of the natural resource company's stock valued at $30,194,000 after acquiring an additional 444,763 shares during the period. Voleon Capital Management LP bought a new position in shares of Freeport-McMoRan in the fourth quarter valued at approximately $3,760,000. Finally, Bison Wealth LLC boosted its position in shares of Freeport-McMoRan by 5.6% in the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company's stock valued at $366,000 after acquiring an additional 507 shares during the period. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Trading Up 0.7%

Shares of FCX traded up $0.31 during mid-day trading on Tuesday, reaching $44.71. The company's stock had a trading volume of 6,055,655 shares, compared to its average volume of 15,470,274. The stock has a market cap of $64.19 billion, a PE ratio of 33.86, a P/E/G ratio of 0.84 and a beta of 1.59. The company has a current ratio of 2.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $52.61. The company's fifty day moving average price is $43.41 and its two-hundred day moving average price is $39.68.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.09. The firm had revenue of $7.58 billion during the quarter, compared to analyst estimates of $6.85 billion. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The business's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. On average, analysts predict 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 Friday, August 1st. Stockholders of record on Tuesday, July 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, July 15th. Freeport-McMoRan's payout ratio is presently 22.73%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. UBS Group lowered shares of Freeport-McMoRan from a "buy" rating to a "neutral" rating and raised their price objective for the company from $45.00 to $50.00 in a research report on Friday, July 11th. Wall Street Zen upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Hsbc Global Res lowered shares of Freeport-McMoRan from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Bank of America reiterated a "neutral" rating and set a $56.00 target price on shares of Freeport-McMoRan in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada lifted their target price on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $51.00.

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.