First National Trust Co Has $257,000 Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

First National Trust Co lessened its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,739 shares of the natural resource company’s stock after selling 638 shares during the quarter. First National Trust Co’s holdings in Freeport-McMoRan were worth $257,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fisher Asset Management LLC increased its holdings in shares of Freeport-McMoRan by 2.4% during the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock worth $2,965,717,000 after buying an additional 1,392,494 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Freeport-McMoRan by 1.9% during the third quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock worth $1,436,455,000 after buying an additional 529,099 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Freeport-McMoRan by 9.5% during the third quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after buying an additional 2,366,187 shares in the last quarter. Amundi increased its holdings in shares of Freeport-McMoRan by 30.2% during the fourth quarter. Amundi now owns 21,580,960 shares of the natural resource company’s stock worth $857,305,000 after buying an additional 5,001,531 shares in the last quarter. Finally, Mountaineer Partners Management LLC grew its stake in shares of Freeport-McMoRan by 4,767.8% during the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock valued at $595,702,000 after purchasing an additional 11,687,982 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 3.5 %

FCX opened at $38.91 on Friday. The firm’s fifty day moving average is $37.93 and its two-hundred day moving average is $42.09. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm has a market cap of $55.91 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a twelve month low of $33.98 and a twelve month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on FCX. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price target for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Wednesday. Scotiabank decreased their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. JPMorgan Chase & Co. decreased their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.75.

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.