Global Trust Asset Management LLC Sells 1,599 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Global Trust Asset Management LLC cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 45.7% in the 4th quarter, Holdings Channel reports. The firm owned 1,903 shares of the natural resource company’s stock after selling 1,599 shares during the period. Global Trust Asset Management LLC’s holdings in Freeport-McMoRan were worth $72,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Deane Retirement Strategies Inc. lifted its position in shares of Freeport-McMoRan by 0.4% during the 3rd quarter. Deane Retirement Strategies Inc. now owns 47,144 shares of the natural resource company’s stock worth $2,357,000 after buying an additional 201 shares during the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of Freeport-McMoRan by 1.0% in the third quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock worth $1,037,000 after acquiring an additional 214 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Freeport-McMoRan by 5.2% in the 3rd quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company’s stock valued at $228,000 after purchasing an additional 228 shares in the last quarter. Fidelis Capital Partners LLC increased its position in Freeport-McMoRan by 2.0% during the 3rd quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock worth $560,000 after purchasing an additional 231 shares in the last quarter. Finally, Prospera Private Wealth LLC lifted its stake in Freeport-McMoRan by 4.4% in the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after purchasing an additional 234 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FCX shares. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. lowered their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Raymond James lifted their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company 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 lowered their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, Scotiabank cut their target price on shares of Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.42.

Freeport-McMoRan Price Performance

FCX stock opened at $39.07 on Thursday. 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 company’s fifty day simple moving average is $41.01 and its 200 day simple moving average is $44.08. Freeport-McMoRan Inc. has a 12-month low of $36.26 and a 12-month high of $55.24. The firm has a market cap of $56.14 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.30 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last announced its 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 company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS. On average, analysts expect that Freeport-McMoRan Inc. will post 1.43 earnings per share for the current year.

Freeport-McMoRan 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.