40,076 Freeport-McMoRan Inc. $FCX Shares Sold by Keybank National Association OH

Keybank National Association OH decreased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,266,720 shares of the natural resource company’s stock after selling 40,076 shares during the quarter. Keybank National Association OH owned about 0.16% of Freeport-McMoRan worth $158,670,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. NBH Bank acquired a new stake in shares of Freeport-McMoRan during the second quarter worth $28,000. REAP Financial Group LLC purchased a new stake in shares of Freeport-McMoRan during the third quarter valued at $32,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Freeport-McMoRan during the first quarter valued at $29,000. Joseph Group Capital Management grew its holdings in shares of Freeport-McMoRan by 68.2% during the third quarter. Joseph Group Capital Management now owns 587 shares of the natural resource company’s stock valued at $41,000 after buying an additional 238 shares during the last quarter. Finally, Roxbury Financial LLC increased its position in shares of Freeport-McMoRan by 196.5% in the 2nd quarter. Roxbury Financial LLC now owns 593 shares of the natural resource company’s stock valued at $37,000 after acquiring an additional 393 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Insiders Place Their Bets

In other Freeport-McMoRan news, Director Lydia H. Kennard sold 3,798 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $79.11, for a total value of $300,459.78. Following the sale, the director directly owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Douglas N. Currault II sold 80,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $78.56, for a total value of $6,284,800.00. Following the sale, the executive vice president directly owned 211,016 shares in the company, valued at $16,577,416.96. This represents a 27.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.73% of the company’s stock.

Freeport-McMoRan Stock Performance

FCX opened at $60.23 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. Freeport-McMoRan Inc. has a 12-month low of $38.85 and a 12-month high of $80.24. The firm has a 50 day moving average of $69.25 and a two-hundred day moving average of $65.29. The firm has a market capitalization of $86.50 billion, a PE ratio of 25.31, a P/E/G ratio of 0.58 and a beta of 1.38.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, October 27th. The natural resource company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.36 billion. Freeport-McMoRan had a net margin of 13.03% and a return on equity of 12.09%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. On average, analysts anticipate that Freeport-McMoRan Inc. will post 3.02 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Thursday, October 15th were issued a dividend of $0.0750 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 12.61%.

Analysts Set New Price Targets

Several research firms recently issued reports on FCX. Scotiabank cut their target price on Freeport-McMoRan from $80.00 to $78.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 28th. Wall Street Zen cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Erste Group Bank started coverage on Freeport-McMoRan in a research report on Thursday, August 27th. They set a “buy” rating for the company. Citigroup boosted their price target on Freeport-McMoRan from $66.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, October 5th. Finally, Royal Bank Of Canada boosted their price target on Freeport-McMoRan from $73.00 to $85.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target of $75.30.

Freeport-McMoRan Profile

Freeport-McMoRan Inc. is a mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Its products serve industries including construction, manufacturing, electronics and energy. The company operates mines and related facilities in North America, South America and Indonesia. Its assets include the Grasberg minerals district in Indonesia and copper operations in the United States, Peru and Chile. Freeport-McMoRan traces its roots to Freeport Sulphur Company, founded in 1912, and has since developed into a major international mining business.