Freeport-McMoRan Inc. $FCX Shares Sold by Heartland Bank & Trust Co

Heartland Bank & Trust Co lessened its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 62.2% in the second quarter, Holdings Channel reports. The firm owned 4,632 shares of the natural resource company’s stock after selling 7,625 shares during the period. Heartland Bank & Trust Co’s holdings in Freeport-McMoRan were worth $201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stratos Investment Management LLC grew its position in Freeport-McMoRan by 238.5% in the first quarter. Stratos Investment Management LLC now owns 64,519 shares of the natural resource company’s stock valued at $2,443,000 after acquiring an additional 45,458 shares in the last quarter. Community Bank N.A. grew its position in Freeport-McMoRan by 18.5% in the first quarter. Community Bank N.A. now owns 39,571 shares of the natural resource company’s stock valued at $1,498,000 after acquiring an additional 6,188 shares in the last quarter. Callan Family Office LLC grew its position in Freeport-McMoRan by 229.9% in the second quarter. Callan Family Office LLC now owns 26,983 shares of the natural resource company’s stock valued at $1,170,000 after acquiring an additional 18,803 shares in the last quarter. Bourgeon Capital Management LLC grew its position in Freeport-McMoRan by 8.1% in the second quarter. Bourgeon Capital Management LLC now owns 331,549 shares of the natural resource company’s stock valued at $14,373,000 after acquiring an additional 24,803 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Freeport-McMoRan by 2.2% in the first quarter. Arizona State Retirement System now owns 421,469 shares of the natural resource company’s stock valued at $15,957,000 after acquiring an additional 8,989 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $42.01 on Wednesday. The business’s fifty day moving average price is $42.59 and its 200 day moving average price is $40.59. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $50.12. The stock has a market capitalization of $60.31 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 0.98 and a beta of 1.58. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.09. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The firm had revenue of $7.58 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same period last year, the business posted $0.46 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, October 15th. This represents a $0.60 annualized dividend and a yield of 1.4%. Freeport-McMoRan’s dividend payout ratio (DPR) is 22.73%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group set a $48.00 price objective on shares of Freeport-McMoRan and gave the company a “buy” rating in a research report on Friday, October 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Freeport-McMoRan in a research report on Wednesday, September 24th. Scotiabank reaffirmed a “sector perform” rating and issued a $45.00 price objective (down previously from $55.00) on shares of Freeport-McMoRan in a research report on Thursday, September 25th. Raymond James Financial decreased their price target on shares of Freeport-McMoRan from $55.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, September 25th. Finally, Wells Fargo & Company raised shares of Freeport-McMoRan to a “strong-buy” rating in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.56.

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.