Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Sculptor Capital LP

Sculptor Capital LP reduced its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 59.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 318,000 shares of the natural resource company's stock after selling 457,000 shares during the quarter. Sculptor Capital LP's holdings in Freeport-McMoRan were worth $12,109,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Sherbrooke Park Advisers LLC lifted its holdings in shares of Freeport-McMoRan by 61.2% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 23,748 shares of the natural resource company's stock valued at $904,000 after purchasing an additional 9,012 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Freeport-McMoRan by 10.6% in the 4th quarter. Rafferty Asset Management LLC now owns 129,326 shares of the natural resource company's stock valued at $4,925,000 after purchasing an additional 12,386 shares during the last quarter. Recurrent Investment Advisors LLC raised its stake in Freeport-McMoRan by 77.1% during the 4th quarter. Recurrent Investment Advisors LLC now owns 71,263 shares of the natural resource company's stock valued at $2,714,000 after acquiring an additional 31,023 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Freeport-McMoRan during the 4th quarter valued at approximately $1,176,000. Finally, ProShare Advisors LLC raised its stake in Freeport-McMoRan by 14.9% during the 4th quarter. ProShare Advisors LLC now owns 260,243 shares of the natural resource company's stock valued at $9,910,000 after acquiring an additional 33,749 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FCX has been the subject of several analyst reports. StockNews.com downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Raymond James reaffirmed an "outperform" rating and set a $52.00 price objective on shares of Freeport-McMoRan in a research note on Friday, April 25th. Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Jefferies Financial Group reaffirmed a "buy" rating and set a $50.00 price objective (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. 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 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.com, Freeport-McMoRan currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.36.

Freeport-McMoRan Price Performance

NYSE:FCX traded down $0.43 during trading hours on Tuesday, reaching $38.37. 7,847,963 shares of the company traded hands, compared to its average volume of 13,588,529. The firm's 50-day moving average is $36.56 and its 200-day moving average is $38.81. The stock has a market cap of $55.14 billion, a P/E ratio of 29.74, a P/E/G ratio of 0.87 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $54.95.

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 for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.36 billion. During the same period last year, the company posted $0.32 EPS. The business's quarterly revenue was down 9.4% on a year-over-year basis. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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