Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,104,781 shares of the natural resource company's stock after selling 430,577 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.49% of Freeport-McMoRan worth $270,550,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Madison Investment Advisors LLC purchased a new position in Freeport-McMoRan in the fourth quarter valued at $3,388,000. Vanguard Group Inc. increased its stake in shares of Freeport-McMoRan by 0.5% in 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 purchasing an additional 642,776 shares in the last quarter. Wellington Management Group LLP raised its holdings in Freeport-McMoRan by 237.4% in the 4th quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company's stock worth $351,041,000 after purchasing an additional 6,486,011 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Freeport-McMoRan by 5.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 159,536 shares of the natural resource company's stock worth $6,075,000 after purchasing an additional 8,195 shares in the last quarter. Finally, PGGM Investments boosted its position in Freeport-McMoRan by 220.3% during the fourth quarter. PGGM Investments now owns 40,467 shares of the natural resource company's stock worth $1,541,000 after purchasing an additional 27,834 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $38.05 on Thursday. The business's 50 day moving average price is $36.55 and its 200 day moving average price is $38.80. The company has a market cap of $54.68 billion, a price-to-earnings ratio of 29.50, a PEG 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 one year low of $27.66 and a one year high of $53.89.

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, topping analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The company's revenue for the quarter was down 9.4% on a year-over-year basis. During the same period last year, the company earned $0.32 EPS. On average, research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's payout ratio is currently 24.79%.

Analysts Set New Price Targets

Several research firms have issued reports on FCX. Argus downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective on the stock in a report on Wednesday, April 16th. Scotiabank boosted their price objective on Freeport-McMoRan from $40.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 14th. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Finally, StockNews.com cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.36.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.