Freeport-McMoRan Inc. $FCX Shares Sold by Private Trust Co. NA

Private Trust Co. NA decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 12.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,075 shares of the natural resource company’s stock after selling 435 shares during the quarter. Private Trust Co. NA’s holdings in Freeport-McMoRan were worth $133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FCX. Strengthening Families & Communities LLC boosted its position in shares of 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 acquiring an additional 261 shares during the last quarter. 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 worth $270,000 after purchasing an additional 273 shares during the period. Kestra Private Wealth Services LLC raised its stake in Freeport-McMoRan by 0.4% during the first quarter. Kestra Private Wealth Services LLC now owns 62,015 shares of the natural resource company’s stock worth $2,348,000 after purchasing an additional 275 shares during the period. Princeton Capital Management LLC boosted its holdings in shares of Freeport-McMoRan by 1.1% in the 1st quarter. Princeton Capital Management LLC now owns 25,980 shares of the natural resource company’s stock valued at $984,000 after purchasing an additional 275 shares during the last quarter. Finally, Capital Investment Advisory Services LLC grew its stake in shares of Freeport-McMoRan by 3.2% during the 1st quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company’s stock valued at $345,000 after buying an additional 278 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $40.77 on Thursday. 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 Inc. has a 1-year low of $27.66 and a 1-year high of $49.21. The company has a market capitalization of $58.54 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 0.97 and a beta of 1.58. The business has a 50-day moving average of $42.60 and a 200-day moving average of $40.81.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 EPS for the quarter, beating 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 business had revenue of $7.58 billion for the quarter, compared to the consensus estimate of $6.85 billion. During the same period last year, the business posted $0.46 EPS. The company’s revenue was up 14.5% on a year-over-year basis. On average, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. Freeport-McMoRan’s dividend payout ratio is 22.73%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FCX. Sanford C. Bernstein cut their target price on Freeport-McMoRan from $48.50 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Morgan Stanley dropped their price target on Freeport-McMoRan from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Freeport-McMoRan from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Dbs Bank decreased their target price on Freeport-McMoRan from $51.00 to $48.00 in a report on Thursday, October 2nd. Finally, Stifel Nicolaus began coverage on shares of Freeport-McMoRan in a report on Wednesday, July 9th. They issued a “buy” rating and a $56.00 price target on the stock. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.92.

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.