Keybank National Association OH Has $135.31 Million Position in Freeport-McMoRan Inc. $FCX

Keybank National Association OH cut its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,302,017 shares of the natural resource company’s stock after selling 47,613 shares during the quarter. Keybank National Association OH owned about 0.16% of Freeport-McMoRan worth $135,313,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Freeport-McMoRan by 24.2% during the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after acquiring an additional 2,882 shares during the last quarter. Bison Wealth LLC boosted its position in shares of Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after purchasing an additional 507 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Freeport-McMoRan during the second quarter worth $560,000. Brown Advisory Inc. grew its stake in shares of Freeport-McMoRan by 27.0% during the second quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after purchasing an additional 2,648 shares during the period. Finally, Jump Financial LLC increased its holdings in Freeport-McMoRan by 42.7% in the second quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock valued at $2,172,000 after purchasing an additional 14,992 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 0.6%

Shares of NYSE:FCX opened at $60.88 on Friday. The firm has a market cap of $87.52 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 0.73 and a beta of 1.37. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.28. The company’s fifty day simple moving average is $64.00 and its 200 day simple moving average is $61.24. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, July 15th. Freeport-McMoRan’s payout ratio is 15.96%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group increased their target price on Freeport-McMoRan from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley restated an “equal weight” rating and set a $66.00 target price (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday, April 24th. Raymond James Financial cut their price target on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Friday, April 24th. Sanford C. Bernstein lifted their price objective on shares of Freeport-McMoRan from $53.50 to $58.50 and gave the stock a “market perform” rating in a research note on Wednesday, June 10th. Finally, BNP Paribas Exane upped their target price on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.36.

Freeport-McMoRan Company 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.