Westerkirk Capital Inc. Invests $884,000 in Freeport-McMoRan Inc. $FCX

Westerkirk Capital Inc. acquired a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 22,531 shares of the natural resource company’s stock, valued at approximately $884,000.

A number of other institutional investors also recently bought and sold shares of FCX. Great Lakes Advisors LLC lifted its position in Freeport-McMoRan by 8.0% in the 3rd quarter. Great Lakes Advisors LLC now owns 1,551,258 shares of the natural resource company’s stock valued at $60,840,000 after acquiring an additional 115,285 shares in the last quarter. New York Life Investment Management LLC boosted its position in Freeport-McMoRan by 11.8% in the second quarter. New York Life Investment Management LLC now owns 215,058 shares of the natural resource company’s stock worth $9,323,000 after purchasing an additional 22,766 shares during the last quarter. Summit Global Investments boosted its holdings in shares of Freeport-McMoRan by 278.4% in the third quarter. Summit Global Investments now owns 46,157 shares of the natural resource company’s stock worth $1,810,000 after buying an additional 33,959 shares during the last quarter. Arrow Capital Pty Ltd boosted its stake in shares of Freeport-McMoRan by 88.5% during the 2nd quarter. Arrow Capital Pty Ltd now owns 113,100 shares of the natural resource company’s stock worth $4,903,000 after acquiring an additional 53,100 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC grew its holdings in Freeport-McMoRan by 5.7% during the third quarter. Foster Victor Wealth Advisors LLC now owns 383,488 shares of the natural resource company’s stock valued at $15,213,000 after purchasing an additional 20,586 shares during the period. 80.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BMO Capital Markets upped their price target on shares of Freeport-McMoRan from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and increased their target price for the company from $53.50 to $54.00 in a research report on Friday, January 23rd. Clarkson Capital upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Wednesday, November 19th. Scotiabank boosted their price objective on Freeport-McMoRan from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Jefferies Financial Group raised their price objective on Freeport-McMoRan from $68.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.73.

Freeport-McMoRan Price Performance

FCX opened at $64.34 on Friday. The business has a fifty day moving average of $57.58 and a 200 day moving average of $47.64. The stock has a market cap of $92.38 billion, a P/E ratio of 42.61, a PEG ratio of 0.70 and a beta of 1.47. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $69.44.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19. The firm had revenue of $5.63 billion during 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 revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share. As a group, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Cuts Dividend

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

Freeport-McMoRan News Summary

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

• Positive Sentiment: Freeport reached a Memorandum of Understanding with the Indonesian government to amend PT Freeport Indonesia’s special mining business license (IUPK) for a life‑of‑resource extension of operating rights — this materially reduces tenure/regulatory risk at Grasberg, bolsters the long‑term copper production and cash‑flow story, and is the main catalyst lifting sentiment. FCX Announces Agreement for Life of Resource Extension
• Positive Sentiment: Scotiabank raised its price target on FCX from $70 to $72 and kept an outperform rating — another broker lift that supports upside expectations and can attract buyer flows. Scotiabank PT raise
• Neutral Sentiment: Market and industry write‑ups are rotating capital into copper amid rising demand for wiring/infrastructure tied to AI and electrification; these macro narratives support commodity price tailwinds but benefit multiple miners, not just FCX. Copper demand/sector rotation
• Neutral Sentiment: Coverage and valuation pieces (Yahoo Finance, Zacks, Seeking Alpha) are re‑pricing FCX on the new Grasberg assumptions and stronger copper outlook — helpful context for investors but not a direct catalyst. Narrative shift article
• Negative Sentiment: Senior insiders sold stock this week: CFO Maree Robertson (48,500 shares) and CAO Ellie Mikes (11,000 shares) — sizable filings that can spook some investors even if sales are for diversification or tax planning. CFO SEC filing CAO SEC filing
• Negative Sentiment: Operational risk remains: analysts and sector commentary note the 2025 Grasberg mudflow’s lingering impact on near‑term production — delays to recovery would limit Freeport’s ability to immediately monetize stronger copper prices. Grasberg MOU and operational context

Insider Transactions at Freeport-McMoRan

In related news, Chairman Richard C. Adkerson sold 152,960 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $64.65, for a total value of $9,888,864.00. Following the transaction, the chairman owned 3,356,159 shares of the company’s stock, valued at $216,975,679.35. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Maree E. Robertson sold 48,500 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $61.55, for a total transaction of $2,985,175.00. Following the transaction, the chief financial officer owned 79,894 shares in the company, valued at approximately $4,917,475.70. This represents a 37.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 573,486 shares of company stock valued at $35,791,937 in the last ninety days. Corporate insiders own 0.75% of the company’s stock.

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.