UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $396.91 Million Stake in Freeport-McMoRan Inc. $FCX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 4.2% in the second quarter, Holdings Channel.com reports. The firm owned 6,311,141 shares of the natural resource company’s stock after selling 275,222 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Freeport-McMoRan were worth $396,908,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. New Mexico Educational Retirement Board grew its position in Freeport-McMoRan by 6.9% during the second quarter. New Mexico Educational Retirement Board now owns 71,480 shares of the natural resource company’s stock valued at $4,495,000 after purchasing an additional 4,600 shares in the last quarter. Mufg Securities Americas Inc. lifted its position in Freeport-McMoRan by 8.9% in the 2nd quarter. Mufg Securities Americas Inc. now owns 43,297 shares of the natural resource company’s stock worth $2,723,000 after buying an additional 3,529 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in shares of Freeport-McMoRan by 114.0% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 933,717 shares of the natural resource company’s stock valued at $58,721,000 after buying an additional 497,349 shares during the period. Nissay Asset Management Corp Japan boosted its stake in shares of Freeport-McMoRan by 4.1% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 192,452 shares of the natural resource company’s stock valued at $12,103,000 after buying an additional 7,589 shares during the period. Finally, BNP Paribas purchased a new position in shares of Freeport-McMoRan during the 2nd quarter valued at $278,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: Recent performance data shows strong momentum, with FCX gaining significantly over the past month, quarter, and year. Zacks also identifies the stock as a strong momentum name, which may continue attracting trend-focused investors. Freeport McMoRan On Smelter Optimism And Whether The Stock Is Already Priced In Here’s Why Freeport-McMoRan Is a Strong Momentum Stock
• Positive Sentiment: Optimism surrounding Freeport-McMoRan’s smelter operations and favorable copper prices supports the company’s growth outlook. A new Erste Group Bank coverage initiation with a “buy” rating also adds positive analyst sentiment. Erste Group Bank coverage
• Positive Sentiment: FCX recently exceeded quarterly earnings and revenue expectations, reporting $0.74 in earnings per share versus a $0.62 consensus estimate and revenue of $7.03 billion versus $6.62 billion expected. Analysts broadly maintain a “Moderate Buy” view, although the average published price target is below the current trading range.
• Neutral Sentiment: Analysts comparing FCX with BHP Group point to strong copper prices, healthy finances, and ongoing growth projects at both miners. The comparison supports the sector outlook but does not provide a clear company-specific catalyst. FCX versus BHP
• Negative Sentiment: Valuation concerns are weighing on the stock after its copper-fueled rally. While a discounted-cash-flow analysis suggests potential upside, market-multiple measures indicate FCX may be expensive following its strong run. Freeport-McMoRan Stock May Be Pricey After Record Copper Rally
• Negative Sentiment: Executive Vice President Douglas Currault II sold 80,000 shares worth approximately $6.3 million, reducing his holdings by 27.5%. Although the sale may be personal or scheduled, it can reinforce profit-taking concerns when the stock is near record levels. Freeport-McMoRan Insider Selling

Freeport-McMoRan Stock Up 0.1%

FCX stock opened at $76.54 on Monday. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. Freeport-McMoRan Inc. has a 1 year low of $35.15 and a 1 year high of $80.24. The company has a fifty day simple moving average of $65.46 and a 200 day simple moving average of $64.02. The firm has a market cap of $109.91 billion, a PE ratio of 37.70, a PEG ratio of 0.76 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.62 by $0.12. The firm had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.62 billion. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 2.79 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, July 15th. Freeport-McMoRan’s dividend payout ratio is 14.78%.

Insider Buying and Selling

In other news, CAO Ellie L. Mikes sold 4,773 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $334,110.00. Following the transaction, the chief accounting officer owned 36,000 shares of the company’s stock, valued at approximately $2,520,000. This represents a 11.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Stephen T. Higgins sold 14,277 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $3,795,951. The trade was a 20.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 110,398 shares of company stock worth $8,387,271. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FCX shares. Jefferies Financial Group upped their price target on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Stifel Nicolaus boosted their target price on Freeport-McMoRan from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Citigroup reaffirmed a “positive” rating on shares of Freeport-McMoRan in a research report on Wednesday, July 15th. Weiss Ratings upgraded Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 31st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $78.00 price target on shares of Freeport-McMoRan in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.27.

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.