9,780 Shares in Freeport-McMoRan Inc. $FCX Bought by American National Bank & Trust

American National Bank & Trust acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, Holdings Channel.com reports. The fund acquired 9,780 shares of the natural resource company’s stock, valued at approximately $497,000.

A number of other hedge funds have also bought and sold shares of the company. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Freeport-McMoRan in the 3rd quarter worth about $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Freeport-McMoRan during the 2nd quarter worth about $28,000. Salomon & Ludwin LLC grew its holdings in Freeport-McMoRan by 1,962.9% during the 3rd quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 687 shares during the last quarter. JPL Wealth Management LLC bought a new position in Freeport-McMoRan during the 3rd quarter valued at about $33,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Freeport-McMoRan in the 3rd quarter worth about $36,000. Institutional investors own 80.77% of the company’s stock.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 11,000 shares of Freeport-McMoRan stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total transaction of $682,330.00. Following the completion of the sale, the chief accounting officer directly owned 40,773 shares of the company’s stock, valued at $2,529,149.19. The trade was a 21.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Maree E. Robertson sold 48,500 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.55, for a total value of $2,985,175.00. Following the completion of the sale, the chief financial officer owned 79,894 shares of the company’s stock, valued at $4,917,475.70. This represents a 37.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 565,145 shares of company stock worth $35,839,918 over the last quarter. Insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. HSBC raised their price objective on shares of Freeport-McMoRan from $48.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. CICC Research increased their price target on Freeport-McMoRan from $50.40 to $64.40 and gave the stock an “outperform” rating in a report on Monday, January 26th. Bank of America increased their price target on Freeport-McMoRan from $68.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. BNP Paribas Exane raised their price target on Freeport-McMoRan from $56.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Freeport-McMoRan from $58.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $62.75.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $61.32 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05. The stock has a market cap of $88.13 billion, a price-to-earnings ratio of 40.61, a price-to-earnings-growth ratio of 0.72 and a beta of 1.48. The firm has a 50-day moving average of $61.31 and a two-hundred day moving average of $51.18. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $69.75.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The business had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period last year, the company posted $0.31 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 19.87%.

About Freeport-McMoRan

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.