Freeport-McMoRan (NYSE:FCX) Stock Price Down 6.7% – Time to Sell?

Freeport-McMoRan Inc. (NYSE:FCX)’s stock price dropped 6.7% during trading on Thursday . The stock traded as low as $68.85 and last traded at $71.1540. 22,154,445 shares traded hands during trading, an increase of 31% from the average session volume of 16,927,588 shares. The stock had previously closed at $76.23.

Key Headlines Impacting Freeport-McMoRan

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

• Positive Sentiment: Longer term, copper fundamentals remain supportive. AI data centers, grid modernization and renewable-energy infrastructure are driving demand, while global mine and concentrate production are declining. Low-cost producers such as Freeport-McMoRan could benefit from higher copper prices because much of their mining cost base is fixed. Copper’s Record Rally Highlights a Deeper Supply Problem
• Positive Sentiment: Recent record copper prices had improved FCX’s earnings outlook, and the company’s latest quarterly results exceeded expectations, with earnings of $0.74 per share versus a $0.62 consensus estimate. Its relatively modest debt-to-equity ratio also provides financial flexibility. Freeport-McMoRan stock gains strongly as record copper prices lift earnings outlook
• Neutral Sentiment: Investor interest in FCX remains elevated, and some commentators view the miner as a volatile way to gain exposure to AI-related copper demand. However, heightened attention can also amplify short-term trading swings. AI is fueling copper demand
• Negative Sentiment: Reports that the proposed copper tariff may be delayed or stalled triggered a sharp reversal in copper-related equities. The policy uncertainty undermines expectations that tariffs would tighten U.S. refined-copper supplies or support domestic copper prices, while elevated yields and a stronger dollar make commodities less attractive. Freeport-McMoRan Stock Drops on Copper Tariff Uncertainty

Analyst Ratings Changes

FCX has been the subject of several recent research reports. Erste Group Bank began coverage on shares of Freeport-McMoRan in a research note on Thursday, August 27th. They set a “buy” rating for the company. Barclays boosted their price objective on shares of Freeport-McMoRan from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Wall Street Zen downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. BNP Paribas Exane lifted their target price on Freeport-McMoRan from $71.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Finally, Wells Fargo & Company upped their price target on Freeport-McMoRan from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. One investment 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $69.75.

Freeport-McMoRan Stock Performance

The stock’s 50 day moving average price is $67.21 and its 200 day moving average price is $64.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 2.07. The company has a market capitalization of $102.18 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 0.75 and a beta of 1.41.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.12. The company had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $6.62 billion. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. Freeport-McMoRan’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 earnings per share. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 2.81 EPS for the current year.

Freeport-McMoRan Announces Dividend

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

Insiders Place Their Bets

In related news, CAO Ellie Mikes sold 4,773 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $334,110.00. Following the completion of the sale, the chief accounting officer owned 36,000 shares of the company’s stock, valued at $2,520,000. This trade represents a 11.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lydia Kennard sold 3,798 shares of Freeport-McMoRan stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $79.11, for a total value of $300,459.78. Following the completion of the sale, the director owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. The trade was a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 110,398 shares of company stock worth $8,387,271 in the last quarter. 0.73% of the stock is currently owned by company insiders.

Institutional Trading of Freeport-McMoRan

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its holdings in shares of Freeport-McMoRan by 6,434.3% during the second quarter. California State Teachers Retirement System now owns 142,181,964 shares of the natural resource company’s stock valued at $8,941,824,000 after purchasing an additional 140,006,047 shares during the period. Jupiter Topco LLC acquired a new stake in shares of Freeport-McMoRan in the 2nd quarter valued at about $739,890,000. Arrowstreet Capital Limited Partnership increased its position in Freeport-McMoRan by 98.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company’s stock valued at $1,014,434,000 after buying an additional 9,924,573 shares in the last quarter. Franklin Resources Inc. raised its stake in Freeport-McMoRan by 31.2% during the 4th quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock worth $1,897,202,000 after buying an additional 8,891,743 shares during the period. Finally, Amundi raised its stake in Freeport-McMoRan by 102.5% during the 4th quarter. Amundi now owns 14,211,579 shares of the natural resource company’s stock worth $721,806,000 after buying an additional 7,192,955 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

About Freeport-McMoRan

Freeport-McMoRan Inc is a global 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 wiring, construction, transportation, industrial equipment and renewable-energy technologies. The company also produces gold as a byproduct of its copper operations and molybdenum, an alloying metal used in steelmaking and other industrial applications.

Freeport-McMoRan operates major mining and processing assets in North America, South America and Indonesia.