Keybank National Association OH Sells 17,637 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Keybank National Association OH trimmed its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,492,190 shares of the natural resource company’s stock after selling 17,637 shares during the period. Keybank National Association OH owned approximately 0.17% of Freeport-McMoRan worth $94,903,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan during the 4th quarter valued at $25,000. Laurel Wealth Advisors LLC raised its stake in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares during the period. Roxbury Financial LLC purchased a new position in Freeport-McMoRan in the 4th quarter worth approximately $28,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Freeport-McMoRan during the 4th quarter valued at approximately $29,000. Finally, Financial Life Planners bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $36,000. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Price Performance

FCX opened at $35.49 on Tuesday. 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 $51.00 billion, a P/E ratio of 27.51, a PEG ratio of 0.87 and a beta of 1.85. The firm has a 50-day moving average of $38.23 and a 200 day moving average of $42.54. Freeport-McMoRan Inc. has a fifty-two week low of $34.89 and a fifty-two week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results 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%. On average, research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. BMO Capital Markets dropped their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Scotiabank decreased their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price objective for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. Finally, Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.04.

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.