WINTON GROUP Ltd Sells 29,360 Shares of Freeport-McMoRan Inc. $FCX

WINTON GROUP Ltd decreased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 34.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,910 shares of the natural resource company’s stock after selling 29,360 shares during the quarter. WINTON GROUP Ltd’s holdings in Freeport-McMoRan were worth $2,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Callan Family Office LLC increased its stake in Freeport-McMoRan by 229.9% during the 2nd quarter. Callan Family Office LLC now owns 26,983 shares of the natural resource company’s stock valued at $1,170,000 after purchasing an additional 18,803 shares in the last quarter. New York Life Investment Management LLC raised its holdings in shares of Freeport-McMoRan by 11.8% in the 2nd quarter. New York Life Investment Management LLC now owns 215,058 shares of the natural resource company’s stock worth $9,323,000 after acquiring an additional 22,766 shares during the last quarter. Bourgeon Capital Management LLC lifted its position in Freeport-McMoRan by 8.1% in the 2nd quarter. Bourgeon Capital Management LLC now owns 331,549 shares of the natural resource company’s stock valued at $14,373,000 after acquiring an additional 24,803 shares in the last quarter. Mercuria Capital Strategies LLC bought a new position in Freeport-McMoRan in the 2nd quarter valued at about $9,970,000. Finally, LGT Fund Management Co Ltd. boosted its stake in Freeport-McMoRan by 1,028.6% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 89,862 shares of the natural resource company’s stock valued at $3,896,000 after purchasing an additional 81,900 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FCX has been the subject of several analyst reports. Dbs Bank lowered their price objective on Freeport-McMoRan from $51.00 to $48.00 in a research note on Thursday, October 2nd. Royal Bank Of Canada decreased their price target on Freeport-McMoRan from $54.00 to $48.00 and set a “sector perform” rating for the company in a report on Wednesday, October 1st. Sanford C. Bernstein dropped their price objective on Freeport-McMoRan from $48.50 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. BNP Paribas Exane cut their price objective on shares of Freeport-McMoRan from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, December 5th. Finally, Hsbc Global Res upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Freeport-McMoRan has a consensus rating of “Buy” and a consensus price target of $47.73.

Freeport-McMoRan Stock Down 0.5%

FCX stock opened at $44.79 on Wednesday. The stock has a market cap of $64.31 billion, a P/E ratio of 31.54, a P/E/G ratio of 1.02 and a beta of 1.49. The company has a current ratio of 2.45, a quick ratio of 1.19 and a debt-to-equity ratio of 0.29. The stock’s fifty day simple moving average is $41.44 and its two-hundred day simple moving average is $42.31. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $49.12.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.09. The firm had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.74 billion. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS. Analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Wednesday, October 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 1.3%. The ex-dividend date of this dividend was Wednesday, October 15th. Freeport-McMoRan’s dividend payout ratio is currently 21.13%.

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.