Two Sigma Advisers LP Has $24.98 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Two Sigma Advisers LP lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 83.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 656,100 shares of the natural resource company’s stock after selling 3,338,700 shares during the quarter. Two Sigma Advisers LP’s holdings in Freeport-McMoRan were worth $24,984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Coppell Advisory Solutions LLC raised its position in shares of Freeport-McMoRan by 47.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company’s stock valued at $32,000 after buying an additional 268 shares in the last quarter. PFG Investments LLC boosted its position in shares of Freeport-McMoRan by 1.3% during the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock worth $872,000 after acquiring an additional 283 shares in the last quarter. Palogic Value Management L.P. increased its stake in 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 valued at $772,000 after acquiring an additional 292 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Freeport-McMoRan by 0.9% in 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 during the last quarter. Finally, Inspire Advisors LLC raised its position in Freeport-McMoRan by 2.6% during the fourth quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company’s stock valued at $494,000 after purchasing an additional 325 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FCX shares. Wolfe Research raised Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a report on Wednesday, April 16th. BMO Capital Markets lowered 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. Scotiabank raised their price objective on Freeport-McMoRan from $40.00 to $43.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 14th. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Finally, Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus target price of $48.36.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $38.37 on Wednesday. The business has a 50 day moving average of $36.56 and a 200-day moving average of $38.81. The company has a market capitalization of $55.14 billion, a P/E ratio of 29.74, a P/E/G ratio of 0.87 and a beta of 1.65. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $54.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were issued a $0.15 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.56%. Freeport-McMoRan’s payout ratio is 24.79%.

About Freeport-McMoRan

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.