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

Windmill Hill Asset Management Ltd decreased its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 32.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,317 shares of the natural resource company's stock after selling 7,351 shares during the period. Freeport-McMoRan comprises about 0.2% of Windmill Hill Asset Management Ltd's investment portfolio, making the stock its 22nd biggest holding. Windmill Hill Asset Management Ltd's holdings in Freeport-McMoRan were worth $583,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Coppell Advisory Solutions LLC grew its holdings in shares of Freeport-McMoRan by 47.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock valued at $32,000 after buying an additional 268 shares during the period. PFG Investments LLC raised its stake in Freeport-McMoRan by 1.3% during the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company's stock worth $872,000 after buying an additional 283 shares during the period. Palogic Value Management L.P. lifted its holdings in Freeport-McMoRan by 1.5% during the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock worth $772,000 after acquiring an additional 292 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Freeport-McMoRan by 0.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock valued at $1,451,000 after acquiring an additional 309 shares during the period. Finally, Inspire Advisors LLC grew its stake in Freeport-McMoRan by 2.6% in the fourth quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company's stock valued at $494,000 after acquiring an additional 325 shares during the period. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Down 1.5%

Shares of FCX stock traded down $0.57 during trading on Friday, reaching $38.46. The company's stock had a trading volume of 17,234,797 shares, compared to its average volume of 13,469,817. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $53.29. The business has a fifty day moving average price of $36.27 and a 200-day moving average price of $38.44. The company has a market cap of $55.27 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period in the previous year, the business earned $0.32 EPS. The company's revenue was down 9.4% compared to the same quarter last year. Analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FCX shares. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Argus cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Raymond James restated an "outperform" rating and set a $52.00 target price on shares of Freeport-McMoRan in a report on Friday, April 25th. Scotiabank upped their price target on shares of Freeport-McMoRan from $40.00 to $43.00 and gave the company a "sector perform" rating in a report on Wednesday, May 14th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $50.00 price objective (up previously from $48.00) on shares of Freeport-McMoRan in a research report 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.36.

Freeport-McMoRan Company 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.