XTX Topco Ltd Sells 80,839 Shares of Freeport-McMoRan Inc. $FCX

XTX Topco Ltd reduced its position in Freeport-McMoRan Inc. (NYSE:FCX) by 83.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 15,899 shares of the natural resource company’s stock after selling 80,839 shares during the period. XTX Topco Ltd’s holdings in Freeport-McMoRan were worth $689,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Portside Wealth Group LLC increased its stake in Freeport-McMoRan by 0.8% in the 2nd quarter. Portside Wealth Group LLC now owns 30,333 shares of the natural resource company’s stock worth $1,315,000 after acquiring an additional 245 shares during the last quarter. Waterloo Capital L.P. grew its holdings in shares of Freeport-McMoRan by 3.9% in the second quarter. Waterloo Capital L.P. now owns 6,658 shares of the natural resource company’s stock valued at $289,000 after purchasing an additional 251 shares in the last quarter. Strengthening Families & Communities LLC increased its position in Freeport-McMoRan by 0.6% in the second quarter. Strengthening Families & Communities LLC now owns 42,617 shares of the natural resource company’s stock worth $1,822,000 after purchasing an additional 261 shares during the last quarter. CVA Family Office LLC increased its position in Freeport-McMoRan by 21.3% in the second quarter. CVA Family Office LLC now owns 1,527 shares of the natural resource company’s stock worth $66,000 after purchasing an additional 268 shares during the last quarter. Finally, Cypress Wealth Services LLC raised its stake in Freeport-McMoRan by 4.6% during the second quarter. Cypress Wealth Services LLC now owns 6,230 shares of the natural resource company’s stock valued at $270,000 after purchasing an additional 273 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Price Performance

FCX stock opened at $42.93 on Wednesday. The stock has a market cap of $61.64 billion, a PE ratio of 30.23, a P/E/G ratio of 0.97 and a beta of 1.49. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $49.12. The company has a 50-day moving average price of $40.66 and a 200 day moving average price of $42.08. The company has a current ratio of 2.45, a quick ratio of 1.19 and a debt-to-equity ratio of 0.29.

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

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Wednesday, October 15th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, October 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. Freeport-McMoRan’s payout ratio is presently 21.13%.

Analysts Set New Price Targets

A number of equities analysts have commented on FCX shares. BMO Capital Markets dropped their price objective on shares of Freeport-McMoRan from $48.00 to $47.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Johnson Rice lowered their price target on shares of Freeport-McMoRan from $55.00 to $48.00 in a report on Monday, September 29th. Bank of America upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Tuesday, September 30th. Hsbc Global Res raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Finally, Royal Bank Of Canada lowered their price objective on Freeport-McMoRan from $54.00 to $48.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 1st. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan presently has an average rating of “Buy” and a consensus price target of $46.73.

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.