Citizens National Bank Trust Department Has $2.51 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Citizens National Bank Trust Department reduced its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,153 shares of the natural resource company's stock after selling 6,235 shares during the quarter. Citizens National Bank Trust Department's holdings in Freeport-McMoRan were worth $2,505,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FCX. Brighton Jones LLC grew its holdings in shares of Freeport-McMoRan by 24.2% during the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock worth $564,000 after purchasing an additional 2,882 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Freeport-McMoRan by 27.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company's stock worth $20,565,000 after purchasing an additional 115,552 shares in the last quarter. NewEdge Wealth LLC boosted its stake in Freeport-McMoRan by 18.4% in the fourth quarter. NewEdge Wealth LLC now owns 36,427 shares of the natural resource company's stock valued at $1,387,000 after buying an additional 5,665 shares in the last quarter. Kovack Advisors Inc. boosted its stake in Freeport-McMoRan by 4.2% in the fourth quarter. Kovack Advisors Inc. now owns 10,068 shares of the natural resource company's stock valued at $383,000 after buying an additional 408 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in Freeport-McMoRan by 360.4% in the fourth quarter. Proficio Capital Partners LLC now owns 238,311 shares of the natural resource company's stock valued at $9,075,000 after buying an additional 186,554 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $40.02, for a total transaction of $343,531.68. Following the completion of the transaction, the chief accounting officer now directly owns 48,333 shares in the company, valued at $1,934,286.66. This trade represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $43.83 on Friday. The company has a current ratio of 2.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $62.99 billion, a PE ratio of 36.23, a P/E/G ratio of 0.85 and a beta of 1.64. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $52.61. The stock has a 50-day moving average price of $39.22 and a two-hundred day moving average price of $38.15.

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

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.37%. Freeport-McMoRan's dividend payout ratio (DPR) is 24.79%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $52.00 price objective on shares of Freeport-McMoRan in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a research note on Thursday, March 6th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $50.00 price objective (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Wall Street Zen lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Finally, Scotiabank raised Freeport-McMoRan from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from $43.00 to $48.00 in a research note on Monday, June 16th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $48.27.

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.

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