Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Lansdowne Partners UK LLP

Lansdowne Partners UK LLP lessened its position in shares of Freeport-McMoRan Inc. (NYSE:FCX[1] - Free Report[2]) by 82.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 278,962 shares of the natural resource company's stock after selling 1,306,409 shares during the quarter. Freeport-McMoRan comprises 0.8% of Lansdowne Partners UK LLP's holdings, making the stock its 13th biggest position.

Lansdowne Partners UK LLP's holdings in Freeport-McMoRan were worth £10,623,000 at the end of the most recent reporting period. Several other institutional investors and hedge funds have also bought and sold shares of FCX. Orion Portfolio Solutions LLC lifted its position in Freeport-McMoRan by 22.5% during the 3rd quarter.

Orion Portfolio Solutions LLC now owns 41,404 shares of the natural resource company's stock worth £2,067,000 after acquiring an additional 7,615 shares during the period. Continuum Advisory LLC boosted its position in Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock valued at £37,000 after buying an additional 236 shares during the last quarter.

M&T Bank Corp increased its holdings in Freeport-McMoRan by 4.8% in the 3rd quarter. M&T Bank Corp now owns 107,184 shares of the natural resource company's stock worth £5,351,000 after buying an additional 4,861 shares during the period. Arete Wealth Advisors LLC boosted its holdings in shares of Freeport-McMoRan by 5.9% in the 3rd quarter.

Arete Wealth Advisors LLC now owns 12,042 shares of the natural resource company's stock valued at £598,000 after acquiring an additional 674 shares during the last quarter. Finally, Westside Investment Management Inc. increased its stake in shares of Freeport-McMoRan by 33.0% in the third quarter. Westside Investment Management Inc. now owns 7,867 shares of the natural resource company's stock worth £373,000 after acquiring an additional 1,950 shares during the period.

80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

FCX[3] traded down £0.06 during trading on Wednesday, reaching £33.31. The company's stock had a trading volume of 17,259,028 shares, compared to its average volume of 13,902,660. The company has a market cap of £47.87 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 0.87 and a beta of 1.71.

The firm has a fifty day simple moving average of £36.86 and a two-hundred day simple moving average of £40.75. Freeport-McMoRan Inc. has a 1 year low of £27.66 and a 1 year high of £55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX[4] - Get Free Report[5]) last posted its earnings results on Thursday, January 23rd. The natural resource company reported £0.31 earnings per share for the quarter, missing the consensus estimate of £0.36 by (£0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%.

As a group, analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a dividend of £0.15 per share. This represents a £0.60 dividend on an annualized basis and a dividend yield of 1.80%.

The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is presently 23.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Jefferies Financial Group raised Freeport-McMoRan from a "hold" rating to a "buy" rating and increased their price target for the stock from £40.00 to £48.00 in a research report on Thursday, February 27th.

Scotiabank decreased their price target on Freeport-McMoRan from £45.00 to £40.00 and set a "sector perform" rating for the company in a report on Monday, April 7th. Argus cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Sanford C.

Bernstein lowered shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price target for the company from £51.00 to £46.00 in a research report on Tuesday, January 7th. Finally, Raymond James upped their price objective on shares of Freeport-McMoRan from £49.00 to £51.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company's stock.

According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of £48.39. Get Our Latest Stock Report on Freeport-McMoRan[6]

Freeport-McMoRan Company 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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References

1. ^ NYSE:FCX (www.marketbeat.com)
2. ^ Free Report (www.marketbeat.com)
3. ^ FCX (www.marketbeat.com)
4. ^ NYSE:FCX (www.marketbeat.com)
5. ^ Get Free Report (www.marketbeat.com)
6. ^ Get Our Latest Stock Report on Freeport-McMoRan (www.marketbeat.com)
7. ^ Free Report (www.marketbeat.com)
8. ^ five stocks (www.marketbeat.com)
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