Dupont Capital Management Corp Has $7.54 Million Stock Holdings in Freeport-McMoRan Inc. $FCX

Dupont Capital Management Corp trimmed its position in Freeport-McMoRan Inc. (NYSE:FCX) by 35.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 148,354 shares of the natural resource company’s stock after selling 81,539 shares during the period. Dupont Capital Management Corp’s holdings in Freeport-McMoRan were worth $7,535,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Freeport-McMoRan in the 3rd quarter valued at approximately $25,000. Salomon & Ludwin LLC raised its position in shares of Freeport-McMoRan by 1,962.9% in the 3rd quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 687 shares during the period. JPL Wealth Management LLC acquired a new stake in Freeport-McMoRan during the 3rd quarter worth approximately $33,000. YANKCOM Partnership raised its holdings in Freeport-McMoRan by 83.3% during the 4th quarter. YANKCOM Partnership now owns 869 shares of the natural resource company’s stock worth $44,000 after buying an additional 395 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Freeport-McMoRan during the 3rd quarter worth approximately $36,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Down 0.6%

Shares of Freeport-McMoRan stock opened at $68.30 on Friday. The firm has a 50-day moving average of $62.01 and a 200-day moving average of $52.63. The stock has a market cap of $98.16 billion, a PE ratio of 45.23, a PEG ratio of 0.81 and a beta of 1.48. Freeport-McMoRan Inc. has a 52-week low of $32.12 and a 52-week high of $69.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19. The company had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. Freeport-McMoRan’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 earnings per share. As a group, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, April 15th. Freeport-McMoRan’s payout ratio is 19.87%.

Wall Street Analysts Forecast Growth

Several analysts have commented on FCX shares. Stifel Nicolaus raised their target price 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. Weiss Ratings restated a “hold (c)” rating on shares of Freeport-McMoRan in a report on Thursday, January 22nd. The Goldman Sachs Group started coverage on shares of Freeport-McMoRan in a report on Thursday, April 2nd. They set a “buy” rating and a $70.00 target price on the stock. BNP Paribas Exane boosted their target price on shares of Freeport-McMoRan from $56.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, Argus upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Friday, February 13th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $66.26.

Insiders Place Their Bets

In related news, CFO Maree E. Robertson sold 48,500 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $61.55, for a total value of $2,985,175.00. Following the completion of the transaction, the chief financial officer owned 79,894 shares of the company’s stock, valued at $4,917,475.70. The trade was a 37.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Ellie L. Mikes sold 11,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total value of $682,330.00. Following the transaction, the chief accounting officer directly owned 40,773 shares of the company’s stock, valued at approximately $2,529,149.19. The trade was a 21.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 565,145 shares of company stock valued at $35,839,918 over the last 90 days. 0.75% of the stock is owned by company insiders.

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.