Massmutual Trust Co. FSB ADV Reduces Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Massmutual Trust Co. FSB ADV lowered its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,328 shares of the natural resource company’s stock after selling 1,000 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Freeport-McMoRan were worth $2,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FCX. Rise Advisors LLC acquired a new stake in Freeport-McMoRan during the first quarter worth $38,000. Mather Group LLC. increased its position in shares of Freeport-McMoRan by 1.3% during the 1st quarter. Mather Group LLC. now owns 17,417 shares of the natural resource company’s stock worth $819,000 after purchasing an additional 222 shares during the last quarter. Tompkins Financial Corp raised its holdings in Freeport-McMoRan by 33.8% in the 1st quarter. Tompkins Financial Corp now owns 791 shares of the natural resource company’s stock valued at $37,000 after buying an additional 200 shares during the period. Atlas Brown Inc. lifted its position in Freeport-McMoRan by 3.5% in the first quarter. Atlas Brown Inc. now owns 8,687 shares of the natural resource company’s stock valued at $408,000 after buying an additional 292 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. lifted its position in Freeport-McMoRan by 39.2% in the first quarter. Beese Fulmer Investment Management Inc. now owns 53,566 shares of the natural resource company’s stock valued at $2,519,000 after buying an additional 15,086 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. UBS Group upped their price objective on shares of Freeport-McMoRan from $41.00 to $54.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Freeport-McMoRan from $48.00 to $51.00 and gave the stock a “hold” rating in a research report on Monday, June 10th. Bernstein Bank raised their price target on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Morgan Stanley upgraded shares of Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $49.50 to $62.00 in a research note on Friday. Finally, HSBC increased their price objective on Freeport-McMoRan from $39.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.93.

Freeport-McMoRan Stock Up 3.5 %

FCX opened at $49.37 on Friday. The stock has a market capitalization of $70.92 billion, a P/E ratio of 43.69, a price-to-earnings-growth ratio of 2.08 and a beta of 1.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.41 and a current ratio of 2.35. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $55.24. The business’s 50-day simple moving average is $50.62 and its 200-day simple moving average is $44.56.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. The company had revenue of $6.32 billion for the quarter, compared to analyst estimates of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. Analysts anticipate that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, April 12th. Freeport-McMoRan’s payout ratio is currently 26.55%.

Insider Buying and Selling at Freeport-McMoRan

In other news, VP Douglas N. Currault II sold 55,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the completion of the sale, the vice president now owns 164,067 shares in the company, valued at $8,529,843.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Stephen T. Higgins sold 80,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $52.03, for a total value of $4,162,400.00. Following the completion of the sale, the chief accounting officer now owns 104,377 shares in the company, valued at approximately $5,430,735.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Douglas N. Currault II sold 55,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $51.99, for a total transaction of $2,859,450.00. Following the completion of the sale, the vice president now owns 164,067 shares of the company’s stock, valued at approximately $8,529,843.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 445,667 shares of company stock worth $22,755,070. 0.79% of the stock is owned by company insiders.

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.