Citizens National Bank Trust Department Sells 925 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Citizens National Bank Trust Department lowered its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,388 shares of the natural resource company’s stock after selling 925 shares during the quarter. Citizens National Bank Trust Department’s holdings in Freeport-McMoRan were worth $2,757,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Fisher Asset Management LLC increased its holdings in 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 valued at $2,965,717,000 after buying an additional 1,392,494 shares during the period. Geode Capital Management LLC boosted its position in Freeport-McMoRan by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock valued at $1,436,455,000 after acquiring an additional 529,099 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Freeport-McMoRan by 9.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock valued at $1,348,522,000 after acquiring an additional 2,366,187 shares during the period. Mountaineer Partners Management LLC raised its position in shares of Freeport-McMoRan by 4,767.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after acquiring an additional 11,687,982 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Freeport-McMoRan by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,223,038 shares of the natural resource company’s stock worth $410,494,000 after purchasing an additional 127,251 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

NYSE FCX opened at $38.58 on Thursday. The company has a market cap of $55.44 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 0.88 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The stock’s fifty day moving average price is $38.68 and its 200 day moving average price is $42.76. Freeport-McMoRan Inc. has a 1 year low of $34.89 and a 1 year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FCX shares. Raymond James lifted their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their price objective for the stock from $48.00 to $40.00 in a research report on Friday, January 24th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, BMO Capital Markets reduced their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.46.

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.