Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Citizens & Northern Corp

Citizens & Northern Corp increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,907 shares of the natural resource company’s stock after acquiring an additional 450 shares during the period. Citizens & Northern Corp’s holdings in Freeport-McMoRan were worth $720,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Empower Advisory Group LLC increased its position in Freeport-McMoRan by 5,518.7% during the fourth quarter. Empower Advisory Group LLC now owns 549,622 shares of the natural resource company’s stock worth $20,930,000 after purchasing an additional 539,840 shares during the last quarter. Truist Financial Corp grew its stake in shares of Freeport-McMoRan by 1.7% in the fourth quarter. Truist Financial Corp now owns 136,594 shares of the natural resource company’s stock valued at $5,202,000 after buying an additional 2,311 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Freeport-McMoRan by 3.8% in the 4th quarter. CIBC Asset Management Inc now owns 224,387 shares of the natural resource company’s stock valued at $8,545,000 after buying an additional 8,317 shares during the period. Sanctuary Advisors LLC grew its position in shares of Freeport-McMoRan by 23.3% during the fourth quarter. Sanctuary Advisors LLC now owns 202,927 shares of the natural resource company’s stock worth $7,435,000 after buying an additional 38,287 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its position in shares of Freeport-McMoRan by 11.9% during the 4th quarter. Catalyst Capital Advisors LLC now owns 20,900 shares of the natural resource company’s stock worth $796,000 after acquiring an additional 2,222 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 1.9 %

Shares of FCX opened at $39.46 on Tuesday. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24. The firm has a market capitalization of $56.69 billion, a P/E ratio of 30.59, a P/E/G ratio of 0.81 and a beta of 1.85. The company has a 50-day simple moving average of $38.84 and a 200-day simple moving average of $42.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate 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 research analysts expect that Freeport-McMoRan Inc. will post 1.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Jefferies Financial Group downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their price objective for the company from $48.00 to $40.00 in a research report on Friday, January 24th. Scotiabank dropped their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, BMO Capital Markets reduced their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.46.

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.