Freeport-McMoRan Inc. $FCX Stock: Ninety One UK Ltd Grows Position

Ninety One UK Ltd increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 4.2% in the third quarter, Holdings Channel reports. The firm owned 4,719,559 shares of the natural resource company’s stock after buying an additional 191,234 shares during the quarter. Ninety One UK Ltd’s holdings in Freeport-McMoRan were worth $330,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of FCX. Turtle Creek Wealth Advisors LLC lifted its position in Freeport-McMoRan by 27.4% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 10,624 shares of the natural resource company’s stock worth $744,000 after acquiring an additional 2,286 shares during the period. SBE LLC DBA Cedar Cove Wealth Partners purchased a new position in shares of Freeport-McMoRan in the 3rd quarter valued at approximately $353,000. Nvwm LLC grew its stake in shares of Freeport-McMoRan by 68.8% in the 3rd quarter. Nvwm LLC now owns 27,800 shares of the natural resource company’s stock valued at $1,946,000 after purchasing an additional 11,333 shares during the last quarter. Covenant Asset Management LLC acquired a new position in shares of Freeport-McMoRan in the third quarter valued at approximately $213,000. Finally, Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Freeport-McMoRan in the third quarter valued at approximately $211,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Freeport-McMoRan

In related news, Director Lydia Kennard sold 3,798 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.11, for a total transaction of $300,459.78. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen Higgins sold 14,277 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total transaction of $992,251.50. Following the transaction, the chief accounting officer 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 110,398 shares of company stock worth $8,387,271 in the last ninety days. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FCX shares. Royal Bank Of Canada upped their price target on Freeport-McMoRan from $73.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 16th. Bank of America lifted their price objective on shares of Freeport-McMoRan from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Erste Group Bank initiated coverage on shares of Freeport-McMoRan in a research report on Thursday, August 27th. They issued a “buy” rating on the stock. BNP Paribas Exane boosted their price objective on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Finally, Sanford C. Bernstein cut their price objective on shares of Freeport-McMoRan from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Wednesday, September 9th. One 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $76.22.

More Freeport-McMoRan News

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

• Positive Sentiment: A halt at Freeport-McMoRan’s Grasberg operation could tighten global copper supply if it persists. Reduced supply may support copper prices and improve the outlook for FCX’s realized pricing and cash flow. However, the disruption could also temporarily reduce production. Does the Grasberg Halt Tighten Copper for Freeport-McMoRan?
• Positive Sentiment: Scotiabank raised its Freeport-McMoRan EPS forecasts to $3.35 for FY2026 from $3.06 and to $2.86 for FY2027 from $2.62. The revisions suggest improving expectations for copper markets, production, costs or some combination of those factors.
• Positive Sentiment: Erste Group Bank also increased its FY2027 EPS estimate to $4.32 from $4.00 and maintained a Buy rating, providing a favorable long-term analyst signal.
• Neutral Sentiment: The reports describing FCX’s steeper decline than the broader market largely document the share-price performance rather than identify a new fundamental deterioration. Freeport-McMoRan Falls More Steeply Than Broader Market
• Negative Sentiment: Technical commentary argues that FCX’s rally looks tired and that consolidation is likely. This may encourage short-term investors to take profits, particularly with the stock below its 50-day moving average. Freeport-McMoRan Rally Looks Tired

Freeport-McMoRan Stock Performance

FCX traded down $0.50 during trading on Thursday, reaching $69.12. The company’s stock had a trading volume of 8,433,604 shares, compared to its average volume of 16,121,328. Freeport-McMoRan Inc. has a 52-week low of $38.54 and a 52-week high of $80.24. The company’s fifty day moving average price is $72.09 and its 200-day moving average price is $66.50. The company has a market capitalization of $99.25 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 0.68 and a beta of 1.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 2.07.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.12. The company had revenue of $7.03 billion for the quarter, compared to analysts’ expectations of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS. On average, equities analysts forecast that Freeport-McMoRan Inc. will post 2.90 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

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

Freeport-McMoRan Company 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.