Hussman Strategic Advisors Inc. Has $766,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Hussman Strategic Advisors Inc. trimmed its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 70.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,000 shares of the natural resource company's stock after selling 42,800 shares during the quarter. Hussman Strategic Advisors Inc.'s holdings in Freeport-McMoRan were worth $766,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC boosted its position in shares of Freeport-McMoRan by 5.4% in the third quarter. International Assets Investment Management LLC now owns 26,715 shares of the natural resource company's stock worth $976,000 after buying an additional 1,379 shares during the period. CWM LLC boosted its position in shares of Freeport-McMoRan by 23.4% in the third quarter. CWM LLC now owns 35,174 shares of the natural resource company's stock worth $1,312,000 after buying an additional 6,661 shares during the period. IFP Advisors Inc boosted its position in shares of Freeport-McMoRan by 41.9% in the third quarter. IFP Advisors Inc now owns 14,793 shares of the natural resource company's stock worth $552,000 after buying an additional 4,366 shares during the period. Ritholtz Wealth Management boosted its position in shares of Freeport-McMoRan by 88.1% in the third quarter. Ritholtz Wealth Management now owns 24,598 shares of the natural resource company's stock worth $917,000 after buying an additional 11,523 shares during the period. Finally, HB Wealth Management LLC boosted its position in shares of Freeport-McMoRan by 7.1% in the third quarter. HB Wealth Management LLC now owns 11,861 shares of the natural resource company's stock worth $442,000 after buying an additional 786 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Sanford C. Bernstein raised Freeport-McMoRan from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $41.00 to $48.50 in a research report on Monday, January 8th. Scotiabank lifted their price objective on Freeport-McMoRan from $48.00 to $55.00 and gave the company a "sector outperform" rating in a research report on Tuesday, April 9th. Bank of America raised Freeport-McMoRan from a "neutral" rating to a "buy" rating and set a $59.00 price objective for the company in a research report on Tuesday, April 9th. Royal Bank of Canada reissued a "sector perform" rating and set a $55.00 price objective on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Finally, Raymond James lifted their price objective on Freeport-McMoRan from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Thursday, January 4th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of "Moderate Buy" and an average price target of $49.23.

Freeport-McMoRan Price Performance

Shares of FCX traded down $0.63 on Monday, hitting $48.98. The company's stock had a trading volume of 20,145,809 shares, compared to its average volume of 13,862,232. The company has a market capitalization of $70.26 billion, a PE ratio of 38.57, a PEG ratio of 2.28 and a beta of 2.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.42 and a quick ratio of 1.38. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $52.42. The company has a 50 day moving average price of $43.80 and a 200 day moving average price of $40.06.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the prior year, the business earned $0.52 EPS. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.57 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, April 12th. Freeport-McMoRan's payout ratio is 23.62%.

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.