Rhumbline Advisers Sells 16,748 Shares of Freeport-McMoRan Inc. $FCX

Rhumbline Advisers cut its position in Freeport-McMoRan Inc. (NYSE:FCX) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,453,257 shares of the natural resource company’s stock after selling 16,748 shares during the quarter. Rhumbline Advisers’ holdings in Freeport-McMoRan were worth $96,217,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Freeport-McMoRan by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 126,983,947 shares of the natural resource company’s stock valued at $5,504,754,000 after buying an additional 1,941,662 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Freeport-McMoRan by 3.2% during the second quarter. Fisher Asset Management LLC now owns 62,358,715 shares of the natural resource company’s stock valued at $2,703,250,000 after acquiring an additional 1,926,493 shares during the last quarter. State Street Corp lifted its holdings in shares of Freeport-McMoRan by 0.5% during the second quarter. State Street Corp now owns 61,787,174 shares of the natural resource company’s stock worth $2,678,474,000 after purchasing an additional 320,514 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Freeport-McMoRan by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 21,671,223 shares of the natural resource company’s stock worth $849,945,000 after purchasing an additional 435,963 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Freeport-McMoRan by 89.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 17,569,169 shares of the natural resource company’s stock valued at $761,623,000 after purchasing an additional 8,292,873 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Freeport-McMoRan

In other news, Chairman Richard C. Adkerson sold 152,960 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $64.65, for a total transaction of $9,888,864.00. Following the completion of the sale, the chairman owned 3,356,159 shares in the company, valued at $216,975,679.35. The trade was a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Douglas N. Currault II sold 75,000 shares of the company’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 value of $4,839,000.00. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 513,986 shares of company stock worth $32,124,432. 0.75% of the stock is currently owned by insiders.

Freeport-McMoRan Stock Up 3.4%

Shares of NYSE FCX opened at $65.41 on Thursday. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29. The firm has a market cap of $93.92 billion, a PE ratio of 43.32, a P/E/G ratio of 0.72 and a beta of 1.47. The company’s fifty day simple moving average is $55.25 and its 200 day simple moving average is $46.58. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $69.44.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data 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 firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.42 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. As a group, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th were issued a $0.075 dividend. The ex-dividend date was Thursday, January 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is presently 19.87%.

More Freeport-McMoRan News

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

Analysts Set New Price Targets

Several research analysts have commented on FCX shares. Scotiabank lifted their target price on Freeport-McMoRan from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. BNP Paribas Exane cut their price objective on Freeport-McMoRan from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, December 5th. HSBC upped their target price on Freeport-McMoRan from $48.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $53.50 to $54.00 in a report on Friday, January 23rd. Finally, Wall Street Zen raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus price target of $59.35.

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.