Freeport-McMoRan Inc. $FCX Shares Sold by Citizens & Northern Corp

Citizens & Northern Corp trimmed its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,019 shares of the natural resource company’s stock after selling 937 shares during the period. Citizens & Northern Corp’s holdings in Freeport-McMoRan were worth $781,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of FCX. Dagco Inc. acquired a new stake in shares of Freeport-McMoRan during the 1st quarter worth approximately $37,000. Beacon Capital Management LLC lifted its stake in shares of Freeport-McMoRan by 59.6% in the 2nd quarter. Beacon Capital Management LLC now owns 876 shares of the natural resource company’s stock valued at $38,000 after purchasing an additional 327 shares during the period. CKW Financial Group purchased a new stake in Freeport-McMoRan during the first quarter worth $40,000. Greykasell Wealth Strategies Inc. acquired a new stake in Freeport-McMoRan during the first quarter valued at $42,000. Finally, Hilltop National Bank acquired a new stake in Freeport-McMoRan during the second quarter valued at $43,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Down 2.0%

Shares of NYSE FCX opened at $41.36 on Wednesday. The stock has a market cap of $59.38 billion, a PE ratio of 31.33, a P/E/G ratio of 0.99 and a beta of 1.58. The company has a current ratio of 2.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $50.12. The company has a 50-day moving average of $42.64 and a 200 day moving average of $40.81.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. The business had revenue of $7.58 billion for the quarter, compared to analyst estimates of $6.85 billion. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. As a group, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, October 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 22.73%.

Analyst Ratings Changes

Several research firms have recently issued reports on FCX. Weiss Ratings reissued a “hold (c)” rating on shares of Freeport-McMoRan in a research note on Wednesday, October 8th. HSBC upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price target for the stock from $43.00 to $50.00 in a research report on Friday. Bank of America upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Tuesday, September 30th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Freeport-McMoRan from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Finally, Royal Bank Of Canada decreased their price target on shares of Freeport-McMoRan from $54.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 1st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.92.

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.