Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Senator Investment Group LP

Senator Investment Group LP lowered its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 94.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,403 shares of the natural resource company's stock after selling 616,597 shares during the quarter. Senator Investment Group LP's holdings in Freeport-McMoRan were worth $1,272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. PFG Investments LLC lifted its stake in Freeport-McMoRan by 1.3% in the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company's stock worth $872,000 after purchasing an additional 283 shares in the last quarter. Palogic Value Management L.P. raised its holdings in shares of Freeport-McMoRan by 1.5% in the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock worth $772,000 after buying an additional 292 shares during the period. SeaCrest Wealth Management LLC grew its holdings in shares of Freeport-McMoRan by 1.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company's stock worth $727,000 after purchasing an additional 307 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Freeport-McMoRan by 0.9% during 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 in the last quarter. Finally, Inspire Advisors LLC lifted its holdings in shares of Freeport-McMoRan by 2.6% in the 4th quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company's stock worth $494,000 after buying an additional 325 shares during the period. 80.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. UBS Group lowered their target price on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Scotiabank reduced their target price 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. Argus cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Hsbc Global Res raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Finally, BMO Capital Markets reduced their price target on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Freeport-McMoRan currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.00.

Freeport-McMoRan Trading Down 0.8 %

Shares of FCX stock traded down $0.31 on Friday, hitting $37.32. 10,953,380 shares of the stock traded hands, compared to its average volume of 13,911,268. The firm's 50-day moving average price is $36.27 and its two-hundred day moving average price is $40.01. The stock has a market capitalization of $53.63 billion, a PE ratio of 28.93, a PEG ratio of 0.87 and a beta of 1.71. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the prior year, the business earned $0.32 earnings per share. As a group, analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.61%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's payout ratio is currently 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.