Windmill Hill Asset Management Ltd Sells 7,351 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Windmill Hill Asset Management Ltd decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 32.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,317 shares of the natural resource company's stock after selling 7,351 shares during the period. Freeport-McMoRan makes up 0.2% of Windmill Hill Asset Management Ltd's portfolio, making the stock its 22nd biggest holding. Windmill Hill Asset Management Ltd's holdings in Freeport-McMoRan were worth $583,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Madison Investment Advisors LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth approximately $3,388,000. Vanguard Group Inc. lifted its position 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 during the last quarter. Wellington Management Group LLP boosted its stake in shares of Freeport-McMoRan by 237.4% during 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 acquiring an additional 6,486,011 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Freeport-McMoRan by 5.4% in the 4th 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 acquiring an additional 8,195 shares during the last quarter. Finally, PGGM Investments raised its position in shares of 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 during the period. Institutional investors and hedge funds own 80.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FCX. Argus downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Raymond James restated an "outperform" rating and set a $52.00 price target on shares of Freeport-McMoRan in a report on Friday, April 25th. Scotiabank lifted their price objective on Freeport-McMoRan from $40.00 to $43.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 14th. Hsbc Global Res raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $50.00 price target (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.36.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock traded down $0.72 on Wednesday, reaching $38.92. The stock had a trading volume of 7,679,524 shares, compared to its average volume of 13,464,065. The stock has a market cap of $55.93 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $53.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The business's 50-day moving average price is $36.42 and its two-hundred day moving average price is $38.52.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Freeport-McMoRan's quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. On average, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is presently 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.