Freeport-McMoRan Inc. (NYSE:FCX) Stock Holdings Lessened by First National Trust Co

First National Trust Co lowered its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,739 shares of the natural resource company’s stock after selling 638 shares during the period. First National Trust Co’s holdings in Freeport-McMoRan were worth $257,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Asset Planning Inc acquired a new stake in Freeport-McMoRan during the 4th quarter valued at $25,000. Vision Financial Markets LLC purchased a new position in shares of Freeport-McMoRan during the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC grew its holdings in shares of Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of Freeport-McMoRan during the 4th quarter valued at $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Freeport-McMoRan during the 4th quarter valued at $29,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 3.5 %

Shares of FCX opened at $38.91 on Friday. The company has a 50-day simple moving average of $37.93 and a 200-day simple moving average of $42.09. The firm has a market capitalization of $55.91 billion, a P/E ratio of 30.16, a P/E/G ratio of 0.87 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced 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 net margin of 7.42% and a return on equity of 7.50%. On average, equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FCX shares. Scotiabank lowered their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.75.

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.