AMG National Trust Bank Has $210,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

AMG National Trust Bank lessened its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,503 shares of the natural resource company’s stock after selling 515 shares during the period. AMG National Trust Bank’s holdings in Freeport-McMoRan were worth $210,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of FCX. Principal Financial Group Inc. lifted its holdings in shares of Freeport-McMoRan by 4.1% during the third quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock worth $84,085,000 after purchasing an additional 66,699 shares during the period. Portside Wealth Group LLC lifted its holdings in shares of Freeport-McMoRan by 14.0% during the third quarter. Portside Wealth Group LLC now owns 21,951 shares of the natural resource company’s stock worth $1,096,000 after purchasing an additional 2,688 shares during the period. Confluence Investment Management LLC lifted its holdings in shares of Freeport-McMoRan by 7.1% during the third quarter. Confluence Investment Management LLC now owns 13,414 shares of the natural resource company’s stock worth $670,000 after purchasing an additional 885 shares during the period. Fiera Capital Corp lifted its holdings in shares of Freeport-McMoRan by 11.9% during the third quarter. Fiera Capital Corp now owns 97,541 shares of the natural resource company’s stock worth $4,869,000 after purchasing an additional 10,410 shares during the period. Finally, Leavell Investment Management Inc. lifted its holdings in shares of Freeport-McMoRan by 1.8% during the third quarter. Leavell Investment Management Inc. now owns 79,185 shares of the natural resource company’s stock worth $3,953,000 after purchasing an additional 1,375 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 1.9 %

NYSE:FCX opened at $36.97 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The firm has a 50-day moving average of $38.06 and a 200-day moving average of $42.36. The company has a market cap of $53.13 billion, a PE ratio of 28.66, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a one year low of $34.26 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FCX. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday. Scotiabank dropped their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their target price for the company from $40.00 to $48.00 in a report on Thursday, February 27th. BMO Capital Markets dropped their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Finally, Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

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.