Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Community Bank N.A.

Community Bank N.A. increased its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 18.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,571 shares of the natural resource company's stock after acquiring an additional 6,188 shares during the period. Community Bank N.A.'s holdings in Freeport-McMoRan were worth $1,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mizuho Bank Ltd. purchased a new position in Freeport-McMoRan in the 4th quarter worth $26,000. Vision Financial Markets LLC purchased a new position in Freeport-McMoRan in the 4th quarter worth $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in Freeport-McMoRan in the 4th quarter worth $29,000. Coppell Advisory Solutions LLC raised its stake in Freeport-McMoRan by 47.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock worth $32,000 after acquiring an additional 268 shares during the last quarter. Finally, City Holding Co. purchased a new position in Freeport-McMoRan in the 1st quarter worth $33,000. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock traded down $1.00 on Friday, hitting $40.18. The company's stock had a trading volume of 13,983,408 shares, compared to its average volume of 13,348,712. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.13 and a current ratio of 2.32. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $52.61. The firm has a fifty day moving average price of $38.28 and a 200-day moving average price of $38.16. The company has a market capitalization of $57.74 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 0.80 and a beta of 1.64.

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

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's payout ratio is 24.79%.

Insider Buying and Selling

In related news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $40.02, for a total value of $343,531.68. Following the sale, the chief accounting officer now directly owns 48,333 shares in the company, 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 SEC, which is accessible through this hyperlink. 0.75% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FCX. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 target price for the company in a research note on Thursday, March 6th. Wall Street Zen lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective for the company in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.27.

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.