Whittier Trust Co. Acquires 899 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Whittier Trust Co. boosted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 18.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,770 shares of the natural resource company’s stock after purchasing an additional 899 shares during the period. Whittier Trust Co.’s holdings in Freeport-McMoRan were worth $220,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Continuum Advisory LLC lifted its stake in Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 236 shares during the last quarter. PFG Investments LLC lifted its stake in Freeport-McMoRan by 1.3% in the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock valued at $872,000 after purchasing an additional 283 shares during the last quarter. Larson Financial Group LLC lifted its stake in Freeport-McMoRan by 14.6% in the third quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock valued at $112,000 after purchasing an additional 287 shares during the last quarter. SeaCrest Wealth Management LLC lifted its stake in Freeport-McMoRan by 1.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock valued at $727,000 after purchasing an additional 307 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its stake in Freeport-McMoRan by 1.6% in the third quarter. King Luther Capital Management Corp now owns 20,303 shares of the natural resource company’s stock valued at $1,014,000 after purchasing an additional 323 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FCX shares. Scotiabank dropped their price objective on 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 downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.04.

Freeport-McMoRan Stock Down 1.0 %

FCX opened at $40.31 on Monday. The stock has a market cap of $57.93 billion, a PE ratio of 31.25, a P/E/G ratio of 0.87 and a beta of 1.87. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24. The business’s fifty day simple moving average is $38.03 and its 200 day simple moving average is $41.97.

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

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.