Freeport-McMoRan Inc. $FCX Stock Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 84.9% during the third quarter, Holdings Channel.com reports. The fund owned 5,448,772 shares of the natural resource company’s stock after purchasing an additional 2,501,881 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Freeport-McMoRan were worth $381,414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FCX. Ninety One UK Ltd lifted its holdings in Freeport-McMoRan by 4.2% during the third quarter. Ninety One UK Ltd now owns 4,719,559 shares of the natural resource company’s stock valued at $330,369,000 after purchasing an additional 191,234 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its stake in shares of Freeport-McMoRan by 27.4% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 10,624 shares of the natural resource company’s stock worth $744,000 after purchasing an additional 2,286 shares in the last quarter. SBE LLC DBA Cedar Cove Wealth Partners purchased a new stake in shares of Freeport-McMoRan during the third quarter worth about $353,000. Nvwm LLC increased its stake in shares of Freeport-McMoRan by 68.8% during the third quarter. Nvwm LLC now owns 27,800 shares of the natural resource company’s stock worth $1,946,000 after purchasing an additional 11,333 shares in the last quarter. Finally, Covenant Asset Management LLC acquired a new position in shares of Freeport-McMoRan during the 3rd quarter worth about $213,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 0.5%

Shares of FCX opened at $70.00 on Friday. Freeport-McMoRan Inc. has a 52-week low of $38.54 and a 52-week high of $80.24. The stock has a market cap of $100.52 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 0.66 and a beta of 1.39. The firm’s fifty day moving average is $72.12 and its two-hundred day moving average is $66.60. The company has a quick ratio of 0.92, a current ratio of 2.07 and a debt-to-equity ratio of 0.25.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. The business 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%. The company’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. Research analysts forecast that Freeport-McMoRan Inc. will post 2.90 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be given a dividend of $0.0750 per share. The ex-dividend date is Thursday, October 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan’s payout ratio is presently 14.78%.

Freeport-McMoRan News Roundup

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

• Positive Sentiment: Strong copper-demand outlook: BlackRock World Mining Trust identified FCX as a major holding, citing long-term demand from global electrification, artificial intelligence infrastructure and the broader focus on critical minerals. This reinforces the investment case for Freeport as a major copper supplier. Freeport McMoRan Is A Major Holding In A Mining Trust
• Positive Sentiment: Higher profit forecasts: Scotiabank raised its FY2026 EPS estimate for FCX to $3.35 from $3.06 and its FY2027 forecast to $2.86 from $2.62. Erste Group also increased its FY2027 estimate to $4.32 from $4.00 and maintained a Buy rating, reflecting expectations for strong metal prices and cash generation. Analysts Raise Freeport-McMoRan Earnings Estimates
• Positive Sentiment: Potential earnings beat: FCX is among the copper and precious-metals companies viewed as likely to exceed third-quarter 2026 estimates, helped by elevated metal prices. Copper and Precious Metals Stocks Likely to Beat Q3 Estimates
• Neutral Sentiment: Production broadly on plan: Third-quarter copper and gold output was generally in line with expectations, but some Indonesian gold production shifted into the fourth quarter. That timing change may defer near-term revenue while potentially supporting the next quarter’s results. Freeport-McMoRan After Q3 Production Update
• Neutral Sentiment: Operational and valuation considerations: Coverage of the Grasberg disruption suggests the event could tighten copper supply, but it also highlights operating risk. Meanwhile, analysts question whether FCX’s sizable multiyear rally and roughly $70 share price already reflect optimistic copper and cash-flow assumptions. Does the Grasberg Halt Tighten Copper Supply?
• Negative Sentiment: Recent profit-taking: FCX recently declined more sharply than the broader market, and commentary suggests its rally may be losing momentum, increasing the likelihood of consolidation despite the favorable long-term copper outlook. Freeport-McMoRan Rally Looks Tired

Wall Street Analyst Weigh In

FCX has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on shares of Freeport-McMoRan from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Erste Group Bank started coverage on Freeport-McMoRan in a report on Thursday, August 27th. They issued a “buy” rating on the stock. BNP Paribas Exane boosted their price objective on Freeport-McMoRan from $71.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. BMO Capital Markets raised their target price on Freeport-McMoRan from $78.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, September 29th. Finally, Sanford C. Bernstein decreased their target price on Freeport-McMoRan from $50.00 to $47.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.22.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, Director Lydia H. Kennard sold 3,798 shares of the stock in a transaction dated Thursday, August 27th. The shares were 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 in the company, valued at approximately $9,706,955.22. This represents a 3.00% 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, EVP Douglas N. Currault II sold 80,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the completion of the sale, the executive vice president owned 211,016 shares of the company’s stock, valued at approximately $16,577,416.96. The trade was a 27.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 110,398 shares of company stock valued at $8,387,271. Insiders own 0.73% of the company’s stock.

Freeport-McMoRan 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.