WINTON GROUP Ltd acquired a new position in Freeport-McMoRan Inc. (NYSE:FCX – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 205,418 shares of the natural resource company’s stock, valued at approximately $10,433,000.
Other large investors have also recently modified their holdings of the company. FLC Capital Advisors grew its stake in shares of Freeport-McMoRan by 40.5% in the fourth quarter. FLC Capital Advisors now owns 13,555 shares of the natural resource company’s stock worth $688,000 after purchasing an additional 3,906 shares during the last quarter. Prestige Wealth Management Group LLC grew its stake in shares of Freeport-McMoRan by 5,893.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 20,797 shares of the natural resource company’s stock worth $1,056,000 after purchasing an additional 20,450 shares during the last quarter. Horizon Bancorp Inc. IN grew its stake in shares of Freeport-McMoRan by 38.8% in the fourth quarter. Horizon Bancorp Inc. IN now owns 3,963 shares of the natural resource company’s stock worth $201,000 after purchasing an additional 1,107 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Freeport-McMoRan by 22,520.4% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 12,215 shares of the natural resource company’s stock worth $620,000 after purchasing an additional 12,161 shares during the last quarter. Finally, Clifford Swan Investment Counsel LLC bought a new stake in shares of Freeport-McMoRan in the fourth quarter worth about $254,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.
Freeport-McMoRan Stock Performance
Freeport-McMoRan stock opened at $63.37 on Friday. The stock’s 50 day simple moving average is $63.48 and its two-hundred day simple moving average is $58.17. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. The stock has a market cap of $91.10 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 0.84 and a beta of 1.35. Freeport-McMoRan Inc. has a fifty-two week low of $35.15 and a fifty-two week high of $72.09.
Freeport-McMoRan Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s payout ratio is presently 15.96%.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Freedom Capital raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 21st. The Goldman Sachs Group raised their target price on Freeport-McMoRan from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays assumed coverage on Freeport-McMoRan in a research note on Thursday, May 21st. They issued an “overweight” rating and a $77.00 target price on the stock. Finally, BNP Paribas Exane cut their target price on Freeport-McMoRan from $75.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average target price of $66.04.
Read Our Latest Analysis on Freeport-McMoRan
About Freeport-McMoRan
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.
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