Windmill Hill Asset Management Ltd Decreases Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Windmill Hill Asset Management Ltd lessened its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 61.8% during the fourth quarter, HoldingsChannel reports. The firm owned 8,668 shares of the natural resource company’s stock after selling 14,000 shares during the period. Freeport-McMoRan accounts for 0.3% of Windmill Hill Asset Management Ltd’s portfolio, making the stock its 20th largest position. Windmill Hill Asset Management Ltd’s holdings in Freeport-McMoRan were worth $330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Czech National Bank increased its stake in Freeport-McMoRan by 6.9% during the 3rd quarter. Czech National Bank now owns 292,703 shares of the natural resource company’s stock worth $14,612,000 after buying an additional 18,967 shares during the period. Atomi Financial Group Inc. boosted its stake in shares of Freeport-McMoRan by 15.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 14,357 shares of the natural resource company’s stock valued at $717,000 after buying an additional 1,952 shares during the last quarter. Brookstone Capital Management grew its position in shares of Freeport-McMoRan by 53.8% during the third quarter. Brookstone Capital Management now owns 13,044 shares of the natural resource company’s stock worth $651,000 after buying an additional 4,565 shares in the last quarter. Daymark Wealth Partners LLC raised its holdings in Freeport-McMoRan by 5.8% in the third quarter. Daymark Wealth Partners LLC now owns 9,274 shares of the natural resource company’s stock valued at $463,000 after acquiring an additional 510 shares in the last quarter. Finally, Marcum Wealth LLC boosted its stake in Freeport-McMoRan by 15.5% during the 3rd quarter. Marcum Wealth LLC now owns 12,707 shares of the natural resource company’s stock valued at $634,000 after acquiring an additional 1,708 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

NYSE FCX opened at $37.15 on Friday. The firm has a market capitalization of $53.38 billion, a PE ratio of 28.80, a P/E/G ratio of 0.85 and a beta of 1.85. 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 Inc. has a 12 month low of $34.89 and a 12 month high of $55.24. The company’s 50 day simple moving average is $39.48 and its 200 day simple moving average is $43.13.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FCX. Raymond James boosted their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their target price for the company from $48.00 to $40.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. reduced their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets reduced their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average price target of $51.46.

Freeport-McMoRan 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.