Madison Asset Management LLC Raises Stock Position in Freeport-McMoRan Inc. $FCX

Madison Asset Management LLC lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 60.2% in the third quarter, Holdings Channel reports. The firm owned 142,941 shares of the natural resource company’s stock after buying an additional 53,698 shares during the period. Madison Asset Management LLC’s holdings in Freeport-McMoRan were worth $5,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FCX. Brighton Jones LLC grew its position in shares of Freeport-McMoRan by 24.2% during the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after buying an additional 2,882 shares in the last quarter. Bison Wealth LLC lifted its stake in Freeport-McMoRan by 5.6% in the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after acquiring an additional 507 shares during the period. Sivia Capital Partners LLC bought a new position in Freeport-McMoRan during the 2nd quarter worth about $560,000. Concurrent Investment Advisors LLC grew its holdings in Freeport-McMoRan by 41.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 48,088 shares of the natural resource company’s stock worth $2,085,000 after acquiring an additional 14,033 shares in the last quarter. Finally, CWM LLC increased its position in Freeport-McMoRan by 111.7% during the 2nd quarter. CWM LLC now owns 147,117 shares of the natural resource company’s stock valued at $6,378,000 after purchasing an additional 77,620 shares during the period. Institutional investors own 80.77% of the company’s stock.

Insider Buying and Selling

In related news, CAO Ellie L. Mikes sold 9,572 shares of Freeport-McMoRan stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $47.66, for a total transaction of $456,201.52. Following the completion of the transaction, the chief accounting officer directly owned 38,761 shares in the company, valued at approximately $1,847,349.26. This trade represents a 19.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Douglas N. Currault II sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total transaction of $4,839,000.00. Following the sale, the executive vice president directly owned 219,181 shares in the company, valued at $14,141,558.12. The trade was a 25.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 513,986 shares of company stock valued at $32,124,432 in the last three months. 0.75% of the stock is currently owned by insiders.

Freeport-McMoRan Price Performance

NYSE FCX opened at $65.41 on Thursday. The company has a market cap of $93.92 billion, a price-to-earnings ratio of 43.32, a PEG ratio of 0.72 and a beta of 1.47. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05. The stock’s fifty day moving average price is $55.25 and its 200 day moving average price is $46.58. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $69.44.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.19. The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.42 billion. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Thursday, January 15th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, January 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 19.87%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FCX. Stifel Nicolaus upped their price target on shares of Freeport-McMoRan from $52.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Freeport-McMoRan in a research note on Thursday, January 22nd. Clarkson Capital upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a report on Wednesday, November 19th. JPMorgan Chase & Co. raised their price target on shares of Freeport-McMoRan from $58.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Finally, HSBC increased their target price on shares of Freeport-McMoRan from $48.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.35.

Key Stories Impacting Freeport-McMoRan

Here are the key news stories impacting Freeport-McMoRan this week:

• Positive Sentiment: Stifel Nicolaus raised its price target on FCX from $52 to $76 and maintained a “buy” rating, giving the stock a notable broker-backed upside case that can support further inflows. BayStreet.CA
• Positive Sentiment: Zacks highlights that earnings estimate revisions for Freeport have trended higher (“surging estimates”), which supports valuation expansion and helps explain near-term upward price momentum. Surging Earnings Estimates Signal Upside
• Neutral Sentiment: Broader coverage from Zacks (sector comparisons, value/momentum write-ups) is increasing investor attention on FCX; useful for volume and sentiment but not a direct fundamental catalyst. FCX Attracting Investor Attention
• Negative Sentiment: Chairman Richard C. Adkerson sold 152,960 shares on Feb. 11 at about $64.65 (~$9.9M); large insider dispositions can weigh on sentiment even if explained by diversification or planned liquidity. Adkerson Feb 11 SEC Filing
• Negative Sentiment: Adkerson also sold 248,031 shares on Feb. 10 at roughly $62.80 (~$15.6M) in a separate transaction; multiple large sales over consecutive days amplify potential negative headlines. Adkerson Feb 10 SEC Filing
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares on Feb. 11 at ~ $64.52 (~$4.84M). While still retaining a large stake, the sale is another near-term negative for insider-sentiment metrics. Currault Feb 11 SEC Filing

About Freeport-McMoRan

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.