Community Bank N.A. Increases Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Community Bank N.A. increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 3.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 21,075 shares of the natural resource company’s stock after acquiring an additional 725 shares during the quarter. Community Bank N.A.’s holdings in Freeport-McMoRan were worth $897,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FCX. Vanguard Group Inc. raised its holdings in shares of Freeport-McMoRan by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 119,369,409 shares of the natural resource company’s stock valued at $4,451,285,000 after buying an additional 305,912 shares in the last quarter. Northern Trust Corp boosted its position in shares of Freeport-McMoRan by 4.2% during the third quarter. Northern Trust Corp now owns 17,756,034 shares of the natural resource company’s stock valued at $662,123,000 after purchasing an additional 709,114 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Freeport-McMoRan by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company’s stock valued at $279,977,000 after purchasing an additional 102,466 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Freeport-McMoRan by 18.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,393,868 shares of the natural resource company’s stock valued at $238,427,000 after purchasing an additional 986,703 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd grew its stake in shares of Freeport-McMoRan by 15.6% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 6,232,130 shares of the natural resource company’s stock worth $265,302,000 after acquiring an additional 840,900 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 2.0 %

Shares of FCX stock traded up $0.97 on Thursday, reaching $49.21. 10,945,878 shares of the company’s stock were exchanged, compared to its average volume of 13,861,810. The company has a current ratio of 2.35, a quick ratio of 1.38 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $44.02 and its 200 day simple moving average is $40.14. The stock has a market capitalization of $70.59 billion, a PE ratio of 43.26, a P/E/G ratio of 2.20 and a beta of 2.04. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $52.42.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $6.32 billion during the quarter, compared to analyst estimates of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. Freeport-McMoRan’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. As a group, analysts forecast that Freeport-McMoRan Inc. will post 1.57 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 annualized dividend and a yield of 1.22%. Freeport-McMoRan’s dividend payout ratio (DPR) is 26.55%.

Analyst Ratings Changes

FCX has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday. Scotiabank lowered their target price on Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating on the stock in a report on Wednesday. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, April 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, January 25th. Finally, Raymond James raised their price target on Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.07.

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.