Freeport-McMoRan Inc. $FCX Holdings Raised by Oak Grove Capital LLC

Oak Grove Capital LLC grew its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 492.3% in the third quarter, HoldingsChannel reports. The fund owned 149,001 shares of the natural resource company’s stock after acquiring an additional 123,843 shares during the period. Oak Grove Capital LLC’s holdings in Freeport-McMoRan were worth $10,430,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Argus Investors Counsel Inc. acquired a new position in Freeport-McMoRan during the 3rd quarter worth $259,000. Mirador Capital Partners LP lifted its stake in shares of Freeport-McMoRan by 3.7% during the third quarter. Mirador Capital Partners LP now owns 135,338 shares of the natural resource company’s stock valued at $9,474,000 after acquiring an additional 4,770 shares during the period. Biltmore Wealth Management LLC bought a new position in Freeport-McMoRan in the third quarter valued at about $212,000. Sound Income Strategies LLC bought a new stake in Freeport-McMoRan during the 3rd quarter worth about $312,000. Finally, Riversedge Advisors LLC lifted its position in Freeport-McMoRan by 7.9% during the 3rd quarter. Riversedge Advisors LLC now owns 7,837 shares of the natural resource company’s stock valued at $549,000 after purchasing an additional 573 shares during the period. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan News Summary

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

• Positive Sentiment: UBS raised its price target to $88 from $77 and maintained a Buy rating. The higher valuation target signals increased confidence in copper fundamentals and Freeport-McMoRan’s operating outlook. UBS Adjusts Price Target on Freeport-McMoRan to $88 From $77, Maintains Buy Rating
• Positive Sentiment: JPMorgan raised its price target for FCX, while Morgan Stanley said the stock is expected to rise. These positive recommendations reinforce the bullish analyst sentiment surrounding the copper producer. Freeport-McMoRan Stock Gets Price Target Bump from JPMorgan Chase & Co. Freeport-McMoRan Stock Price Expected to Rise, Morgan Stanley Analyst Says
• Neutral Sentiment: Copper remains the key investment driver for Freeport-McMoRan. The company’s earnings are highly sensitive to copper prices and demand, making long-term trends such as grid investment, electrification and industrial growth important to FCX’s valuation and its position in the S&P 500. Why Does Copper Matter for Freeport-McMoRan in S&P 500?
• Negative Sentiment: Zacks Research reduced EPS estimates across multiple periods. Forecasts were lowered for Q3 2026 to $0.61 from $0.63, FY2026 to $2.50 from $2.52, FY2027 to $3.47 from $3.54, and FY2028 to $3.41 from $3.52. The revisions suggest some pressure on expected production, copper pricing or costs, though the cuts were generally modest.
• Negative Sentiment: FCX recently underperformed the broader market in the latest session. That weakness may reflect profit-taking or concern about the lower earnings forecasts, despite the more constructive analyst price targets. Freeport-McMoRan Suffers a Larger Drop Than the General Market

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $73.67 on Friday. Freeport-McMoRan Inc. has a 12 month low of $38.54 and a 12 month high of $80.24. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $105.80 billion, a PE ratio of 36.29, a PEG ratio of 0.68 and a beta of 1.39. The stock’s fifty day simple moving average is $71.78 and its 200 day simple moving average is $66.10.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%. The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the firm posted $0.54 earnings per share. Freeport-McMoRan’s revenue was down 7.3% compared to the same quarter last year. On average, research analysts predict that Freeport-McMoRan Inc. will post 2.86 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be issued a $0.0750 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio is 14.78%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group lifted their price target on shares of Freeport-McMoRan from $77.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday. HSBC lifted their target price on shares of Freeport-McMoRan from $72.00 to $75.00 in a report on Friday, June 12th. BNP Paribas Exane increased their price target on Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Erste Group Bank started coverage on Freeport-McMoRan in a research report on Thursday, August 27th. They issued a “buy” rating on the stock. Finally, Barclays lifted their price objective on Freeport-McMoRan from $82.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.22.

Insider Activity at Freeport-McMoRan

In related news, CAO Stephen Higgins sold 14,277 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total value of $992,251.50. Following the completion of the transaction, the chief accounting officer directly owned 54,618 shares of the company’s stock, valued at approximately $3,795,951. This represents a 20.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Douglas Currault, II sold 80,000 shares of Freeport-McMoRan stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total value of $6,284,800.00. Following the completion of the sale, the executive vice president directly owned 211,016 shares in the company, valued at $16,577,416.96. This represents a 27.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 110,398 shares of company stock worth $8,387,271 over the last three months. 0.73% of the stock is currently owned by insiders.

Freeport-McMoRan Profile

Freeport-McMoRan Inc (NYSE: FCX) is a leading international mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.