Cambridge Trust Co. Sells 385 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Cambridge Trust Co. cut its position in Freeport-McMoRan Inc. (NYSE:FCX) by 3.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,540 shares of the natural resource company’s stock after selling 385 shares during the period. Cambridge Trust Co.’s holdings in Freeport-McMoRan were worth $449,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Fairfield Bush & CO. purchased a new position in shares of Freeport-McMoRan in the 1st quarter worth $26,000. Bruce G. Allen Investments LLC purchased a new position in shares of Freeport-McMoRan in the fourth quarter worth approximately $27,000. KB Financial Partners LLC bought a new stake in Freeport-McMoRan during the first quarter valued at approximately $26,000. Retirement Group LLC grew its position in shares of Freeport-McMoRan by 97.1% during the 2nd quarter. Retirement Group LLC now owns 670 shares of the natural resource company’s stock valued at $27,000 after acquiring an additional 330 shares during the period. Finally, ICA Group Wealth Management LLC bought a new position in Freeport-McMoRan in the 4th quarter worth $28,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FCX. JPMorgan Chase & Co. lifted their price objective on Freeport-McMoRan from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $41.00 to $48.50 in a research note on Monday, January 8th. Bank of America upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Tuesday, April 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, January 25th. Finally, Raymond James increased their price objective on shares of Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $47.54.

Freeport-McMoRan Stock Up 0.7 %

Shares of NYSE:FCX opened at $50.16 on Friday. The company has a 50-day moving average price of $43.32 and a 200 day moving average price of $39.82. The company has a current ratio of 2.42, a quick ratio of 1.38 and a debt-to-equity ratio of 0.32. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $52.42. The company has a market cap of $71.95 billion, a price-to-earnings ratio of 39.50, a PEG ratio of 2.25 and a beta of 2.04.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same period last year, the company earned $0.52 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 1.6 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.62%.

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.