Worldquant Millennium Advisors LLC Has $42.52 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Worldquant Millennium Advisors LLC grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 47.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,116,691 shares of the natural resource company's stock after purchasing an additional 361,018 shares during the period. Worldquant Millennium Advisors LLC owned approximately 0.08% of Freeport-McMoRan worth $42,524,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Asset Planning Inc bought a new position in Freeport-McMoRan in the fourth quarter valued at about $25,000. Mizuho Bank Ltd. bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $26,000. Vision Financial Markets LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $27,000. Roxbury Financial LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $29,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on FCX. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a research report on Thursday, March 6th. Scotiabank upped their price target 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. BMO Capital Markets lowered their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Argus downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Finally, Wolfe Research raised Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective for the company in a research note on Wednesday, April 16th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.36.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $38.78 on Tuesday. The stock has a fifty day simple moving average of $36.55 and a two-hundred day simple moving average of $38.81. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $55.24. The firm has a market cap of $55.73 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

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 for the quarter, beating the consensus estimate of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The business had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same period in the prior year, the company earned $0.32 earnings per share. Freeport-McMoRan'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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is 24.79%.

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.

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