CENTRAL TRUST Co Cuts Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

CENTRAL TRUST Co lowered its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 22.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,828 shares of the natural resource company's stock after selling 11,076 shares during the period. CENTRAL TRUST Co's holdings in Freeport-McMoRan were worth $1,432,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mizuho Bank Ltd. acquired a new position in Freeport-McMoRan in the 4th quarter worth about $26,000. Vision Financial Markets LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $29,000. Coppell Advisory Solutions LLC lifted its position in shares of Freeport-McMoRan by 47.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock valued at $32,000 after buying an additional 268 shares in the last quarter. Finally, City Holding Co. acquired a new stake in Freeport-McMoRan in the 1st quarter valued at $33,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $41.17 on Thursday. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $52.61. The stock has a market cap of $59.16 billion, a PE ratio of 34.02, a P/E/G ratio of 0.82 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.13 and a current ratio of 2.32. The stock has a 50 day moving average price of $37.95 and a 200 day moving average price of $38.23.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.03% and a net margin of 7.11%. The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period last year, the company earned $0.32 EPS. The company's revenue for the quarter was down 9.4% on a year-over-year basis. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is presently 24.79%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FCX shares. Royal Bank Of Canada upped their price objective on shares of Freeport-McMoRan from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a research report on Thursday, March 6th. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective on the stock in a report on Wednesday, April 16th. Scotiabank upgraded Freeport-McMoRan from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the stock from $43.00 to $48.00 in a research note on Monday. Finally, UBS Group decreased their target price on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Freeport-McMoRan presently has an average rating of "Moderate Buy" and an average price target of $48.27.

Insider Buying and Selling at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $40.02, for a total transaction of $343,531.68. Following the sale, the chief accounting officer now owns 48,333 shares of the company's stock, valued at approximately $1,934,286.66. The trade was a 15.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.75% of the stock is currently owned by company insiders.

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.

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