Freeport-McMoRan Inc. $FCX Shares Sold by Citizens National Bank Trust Department

Citizens National Bank Trust Department decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,053 shares of the natural resource company’s stock after selling 3,100 shares during the period. Citizens National Bank Trust Department’s holdings in Freeport-McMoRan were worth $2,733,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Brighton Jones LLC lifted its holdings in Freeport-McMoRan by 24.2% in the fourth 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 period. Bison Wealth LLC lifted its stake in shares of Freeport-McMoRan by 5.6% in the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after purchasing an additional 507 shares during the period. OLD National Bancorp IN boosted its holdings in Freeport-McMoRan by 20.1% during the first quarter. OLD National Bancorp IN now owns 11,905 shares of the natural resource company’s stock worth $451,000 after buying an additional 1,992 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Freeport-McMoRan by 5.2% during the first quarter. Park Avenue Securities LLC now owns 27,055 shares of the natural resource company’s stock worth $1,024,000 after buying an additional 1,341 shares in the last quarter. Finally, Portside Wealth Group LLC increased its holdings in Freeport-McMoRan by 25.4% in the first quarter. Portside Wealth Group LLC now owns 30,088 shares of the natural resource company’s stock valued at $1,139,000 after buying an additional 6,092 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX opened at $40.73 on Wednesday. The business has a 50-day moving average of $42.35 and a two-hundred day moving average of $40.54. The firm has a market capitalization of $58.47 billion, a PE ratio of 30.85, a P/E/G ratio of 0.89 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 Inc. has a 12 month low of $27.66 and a 12 month high of $50.28.

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

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be given a $0.15 dividend. The ex-dividend date of this dividend 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 presently 22.73%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FCX shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Freeport-McMoRan in a research note on Wednesday, September 24th. Royal Bank Of Canada dropped their price objective on Freeport-McMoRan from $54.00 to $48.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 1st. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and set a $48.50 price target on the stock in a research note on Thursday, September 25th. Stifel Nicolaus started coverage on shares of Freeport-McMoRan in a research note on Wednesday, July 9th. They set a “buy” rating and a $56.00 price objective for the company. Finally, Stifel Canada raised shares of Freeport-McMoRan to a “strong-buy” rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

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.