State of New Jersey Common Pension Fund D Acquires 30,470 Shares of Freeport-McMoRan Inc. $FCX

State of New Jersey Common Pension Fund D boosted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 6.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 508,117 shares of the natural resource company’s stock after purchasing an additional 30,470 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Freeport-McMoRan were worth $19,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Calton & Associates Inc. purchased a new stake in shares of Freeport-McMoRan in the third quarter worth about $446,000. PNC Financial Services Group Inc. raised its position in Freeport-McMoRan by 2.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 258,845 shares of the natural resource company’s stock worth $10,152,000 after purchasing an additional 7,313 shares during the period. ABN Amro Investment Solutions bought a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $513,000. GenTrust LLC boosted its stake in shares of Freeport-McMoRan by 6.1% during the third quarter. GenTrust LLC now owns 52,796 shares of the natural resource company’s stock valued at $2,071,000 after purchasing an additional 3,051 shares during the period. Finally, TCTC Holdings LLC grew its stake in Freeport-McMoRan by 2.4% in the 3rd quarter. TCTC Holdings LLC now owns 754,316 shares of the natural resource company’s stock worth $29,584,000 after acquiring an additional 17,584 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan News Summary

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

• Positive Sentiment: BNP Paribas Exane raised its price target on FCX to $75 (from $56) and kept an “outperform” rating — a sizeable lift to upside expectations. Read More.
• Positive Sentiment: Argus upgraded FCX from “hold” to “buy,” reinforcing buy-side momentum and contributing to short‑term demand. Read More.
• Positive Sentiment: Other broker actions (Stifel raised its target to $76; UBS, Wells Fargo and Morgan Stanley have recently lifted targets) add to the analyst-driven narrative supporting higher valuations. Read More.
• Positive Sentiment: Zacks and other research outlets highlight rising earnings-estimate revisions and momentum characteristics for FCX, which can justify multiple expansion if commodity prices and volumes cooperate. Read More.
• Neutral Sentiment: Increased media and analyst attention (multiple Zacks pieces, MSN/Yahoo coverage) is amplifying flows into FCX but is informational rather than a direct operational catalyst. Read More.
• Negative Sentiment: Grasberg production setbacks materially reduced Q4 copper/gold volumes, a real operational headwind that can limit near-term revenue despite stronger prices. Read More.
• Negative Sentiment: Large insider sales: Chairman Richard Adkerson disclosed multi-hundred-thousand‑share disposals (Feb. 10–11 filings) totaling tens of millions of dollars — these trades can sap sentiment even if explained by diversification or tax planning. Read More.
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares (~$4.8M); insider selling at the executive level is a nearer-term negative for perception of internal conviction. Read More.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company boosted their price target on Freeport-McMoRan from $55.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $68.00 price objective on shares of Freeport-McMoRan in a research report on Monday, January 5th. Argus upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Freeport-McMoRan in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.26.

Freeport-McMoRan Trading Up 1.3%

NYSE FCX opened at $62.82 on Monday. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $69.44. The company has a fifty day simple moving average of $55.94 and a two-hundred day simple moving average of $46.90. The company has a current ratio of 2.29, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The stock has a market cap of $90.21 billion, a P/E ratio of 41.60, a P/E/G ratio of 0.69 and a beta of 1.47.

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

Freeport-McMoRan Cuts Dividend

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

Insider Transactions at Freeport-McMoRan

In other news, Chairman Richard C. Adkerson sold 152,960 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $64.65, for a total value of $9,888,864.00. Following the sale, the chairman directly owned 3,356,159 shares of the company’s stock, valued at $216,975,679.35. This represents a 4.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ellie L. Mikes sold 9,572 shares of the stock in a transaction 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 sale, the chief accounting officer owned 38,761 shares in the company, valued at $1,847,349.26. The trade was a 19.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 513,986 shares of company stock worth $32,124,432. 0.79% of the stock is owned by company insiders.

Freeport-McMoRan Profile

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.