WINTON GROUP Ltd Takes Position in Freeport-McMoRan Inc. $FCX

WINTON GROUP Ltd bought a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, Holdings Channel reports. The firm bought 205,418 shares of the natural resource company’s stock, valued at approximately $10,433,000.

Other large investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $38,000. Key Financial Inc lifted its holdings in shares of Freeport-McMoRan by 32.3% during the fourth quarter. Key Financial Inc now owns 828 shares of the natural resource company’s stock valued at $42,000 after purchasing an additional 202 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Freeport-McMoRan during the third quarter valued at approximately $33,000. Laurel Wealth Advisors LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $43,000. Finally, YANKCOM Partnership lifted its holdings in shares of Freeport-McMoRan by 83.3% during the fourth quarter. YANKCOM Partnership now owns 869 shares of the natural resource company’s stock valued at $44,000 after purchasing an additional 395 shares during the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BNP Paribas Exane lowered their target price on shares of Freeport-McMoRan from $75.00 to $71.00 and set an “outperform” rating for the company in a report on Tuesday, April 28th. Weiss Ratings upgraded shares of Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Wells Fargo & Company lowered their target price on shares of Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Scotiabank lowered their target price on shares of Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, April 24th. Finally, Stifel Nicolaus boosted their price objective on shares of Freeport-McMoRan from $52.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.04.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $63.37 on Friday. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $72.09. The firm has a market cap of $91.10 billion, a P/E ratio of 33.71, a PEG ratio of 0.84 and a beta of 1.35. The company has a 50 day moving average of $63.48 and a 200 day moving average of $58.17. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. As a group, research analysts expect that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were paid a dividend of $0.075 per share. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s payout ratio is currently 15.96%.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.