First National Trust Co Takes $207,000 Position in Freeport-McMoRan Inc. (NYSE:FCX)

First National Trust Co purchased a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,862 shares of the natural resource company’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital Wealth Planning LLC bought a new position in Freeport-McMoRan in the third quarter worth approximately $160,160,000. Mizuho Markets Americas LLC purchased a new position in Freeport-McMoRan in the third quarter worth $141,407,000. Alphinity Investment Management Pty Ltd grew its holdings in Freeport-McMoRan by 57.4% in the third quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock worth $201,039,000 after purchasing an additional 1,965,987 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in Freeport-McMoRan in the fourth quarter worth $66,993,000. Finally, Penserra Capital Management LLC grew its holdings in Freeport-McMoRan by 16,058.7% in the third quarter. Penserra Capital Management LLC now owns 1,500,338 shares of the natural resource company’s stock worth $55,947,000 after purchasing an additional 1,491,053 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Insider Buying and Selling

In other news, CAO Stephen T. Higgins sold 43,900 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $51.08, for a total transaction of $2,242,412.00. Following the completion of the sale, the chief accounting officer now directly owns 104,377 shares in the company, valued at $5,331,577.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 43,900 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $51.08, for a total value of $2,242,412.00. Following the completion of the transaction, the chief accounting officer now directly owns 104,377 shares in the company, valued at $5,331,577.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Douglas N. Currault II sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $51.99, for a total value of $2,859,450.00. Following the transaction, the vice president now owns 164,067 shares of the company’s stock, valued at approximately $8,529,843.33. The disclosure for this sale can be found here. Insiders have sold 310,896 shares of company stock valued at $15,811,399 in the last quarter. Company insiders own 0.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on FCX shares. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $41.00 to $48.50 in a report on Monday, January 8th. Raymond James lifted their price target on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Argus boosted their price objective on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Bernstein Bank boosted their price objective on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.07.

Freeport-McMoRan Stock Up 1.0 %

FCX stock traded up $0.50 during midday trading on Monday, hitting $50.95. The company’s stock had a trading volume of 1,643,722 shares, compared to its average volume of 14,195,348. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $52.52. The firm has a market capitalization of $73.08 billion, a P/E ratio of 44.65, a PEG ratio of 8.19 and a beta of 2.02. The firm has a 50-day simple moving average of $45.86 and a 200-day simple moving average of $40.91.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The company had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the company posted $0.52 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 1.66 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.18%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

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.