CENTRAL TRUST Co Grows Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

CENTRAL TRUST Co increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 21.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,904 shares of the natural resource company's stock after purchasing an additional 8,571 shares during the quarter. CENTRAL TRUST Co's holdings in Freeport-McMoRan were worth $1,862,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Koshinski Asset Management Inc. lifted its position in shares of Freeport-McMoRan by 1.0% in the third quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company's stock valued at $1,037,000 after acquiring an additional 214 shares in the last quarter. Trust Co. of Vermont grew its stake in Freeport-McMoRan by 5.2% in the 3rd quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company's stock worth $228,000 after acquiring an additional 228 shares during the period. Fidelis Capital Partners LLC increased its position in Freeport-McMoRan by 2.0% during the third quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company's stock worth $560,000 after purchasing an additional 231 shares during the last quarter. Prospera Private Wealth LLC grew its holdings in Freeport-McMoRan by 4.4% during the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company's stock worth $277,000 after acquiring an additional 234 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock valued at $37,000 after buying an additional 236 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Analyst Ratings Changes

FCX has been the topic of a number of recent analyst reports. BMO Capital Markets cut their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Raymond James boosted their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating and dropped their price target for the stock from $48.00 to $40.00 in a research note on Friday, January 24th. Scotiabank decreased their target price on Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating on the stock in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. lowered their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan currently has a consensus rating of "Moderate Buy" and an average target price of $51.46.

Freeport-McMoRan Stock Down 2.3 %

Shares of FCX stock opened at $35.81 on Monday. The firm's fifty day moving average price is $40.06 and its two-hundred day moving average price is $43.35. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 1 year low of $35.46 and a 1 year high of $55.24. The firm has a market capitalization of $51.46 billion, a P/E ratio of 27.76, a PEG ratio of 0.86 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS 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%. On average, equities analysts predict that Freeport-McMoRan Inc. will post 1.75 EPS for the current fiscal year.

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.

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