Trust Co. of Toledo NA OH Has $814,000 Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Trust Co. of Toledo NA OH lowered its position in Freeport-McMoRan Inc. (NYSE:FCX) by 26.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,383 shares of the natural resource company’s stock after selling 7,822 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Freeport-McMoRan were worth $814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC grew its stake in Freeport-McMoRan by 2.4% in the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock valued at $2,965,717,000 after purchasing an additional 1,392,494 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Freeport-McMoRan by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock worth $1,436,455,000 after acquiring an additional 529,099 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Freeport-McMoRan by 9.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after acquiring an additional 2,366,187 shares in the last quarter. Mountaineer Partners Management LLC boosted its stake in shares of Freeport-McMoRan by 4,767.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after acquiring an additional 11,687,982 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Freeport-McMoRan by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,028,452 shares of the natural resource company’s stock worth $536,038,000 after acquiring an additional 530,676 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 1.1 %

Freeport-McMoRan stock opened at $39.40 on Tuesday. The business has a 50 day moving average price of $41.83 and a two-hundred day moving average price of $44.53. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. The stock has a market cap of $56.61 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 2.90 and a beta of 1.87. Freeport-McMoRan Inc. has a 12 month low of $36.26 and a 12 month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. The firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.45 billion. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 1.49 EPS for the current year.

Freeport-McMoRan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be issued a $0.15 dividend. This is a boost from Freeport-McMoRan’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.60 annualized dividend and a yield of 1.52%. Freeport-McMoRan’s dividend payout ratio is 21.90%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FCX shares. Raymond James upped their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. upped their price target on Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Jefferies Financial Group decreased their price target on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Scotiabank decreased their target price on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating for the company in a research note on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.96.

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.