Janus Henderson Group PLC Lowers Position in Freeport-McMoRan Inc. (NYSE:FCX)

Janus Henderson Group PLC lessened its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,776,449 shares of the natural resource company's stock after selling 395,770 shares during the quarter. Janus Henderson Group PLC owned approximately 0.33% of Freeport-McMoRan worth $181,915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FCX. Principal Financial Group Inc. lifted its stake in shares of Freeport-McMoRan by 4.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company's stock valued at $84,085,000 after purchasing an additional 66,699 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Freeport-McMoRan by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 160,920 shares of the natural resource company's stock valued at $6,128,000 after purchasing an additional 2,503 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Freeport-McMoRan by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 51,697 shares of the natural resource company's stock valued at $1,969,000 after purchasing an additional 1,266 shares during the period. Czech National Bank lifted its stake in shares of Freeport-McMoRan by 6.4% in the 4th quarter. Czech National Bank now owns 311,555 shares of the natural resource company's stock valued at $11,864,000 after purchasing an additional 18,852 shares during the period. Finally, Matrix Trust Co raised its stake in Freeport-McMoRan by 785.5% during the fourth quarter. Matrix Trust Co now owns 4,463 shares of the natural resource company's stock valued at $170,000 after buying an additional 3,959 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $37.76 on Monday. 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 one year low of $27.66 and a one year high of $55.24. The firm has a market capitalization of $54.26 billion, a P/E ratio of 29.27, a PEG ratio of 0.87 and a beta of 1.65. The business has a fifty day moving average of $36.29 and a 200 day moving average of $39.12.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 EPS 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 company had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. Freeport-McMoRan's revenue was down 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan's payout ratio is currently 24.79%.

Analyst Ratings Changes

A number of research analysts have issued reports on FCX shares. Wolfe Research upgraded 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. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. 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. Scotiabank lowered their price objective on Freeport-McMoRan from $45.00 to $40.00 and set a "sector perform" rating for the company in a research note on Monday, April 7th. Finally, Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Five 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $48.09.

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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