Freeport-McMoRan (NYSE:FCX) Trading 1% Higher – Still a Buy?

Freeport-McMoRan Inc. (NYSE:FCX)’s share price rose 1% on Tuesday . The company traded as high as $60.09 and last traded at $59.3260. Approximately 21,698,041 shares were traded during trading, a decline of 3% from the average daily volume of 22,282,293 shares. The stock had previously closed at $58.71.

Freeport-McMoRan News Summary

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

• Positive Sentiment: BofA’s latest note highlighting its top picks in the red‑hot metals sector is amplifying demand for large, liquid copper producers; that sector lift is benefiting market leaders like Freeport. BofA details its top 3 stock picks in the red‑hot metals sector
• Positive Sentiment: News coverage pointing to the specific drivers that “lifted” FCX (sector strength, commodity price moves and company fundamentals) is reinforcing bullish sentiment and helping to attract momentum investors. Here’s what lifted Freeport McMoRan (FCX)
• Positive Sentiment: Zacks reports heightened user and investor attention on FCX, highlighting that the stock is on watch lists — increased retail and analyst focus can amplify intraday moves and support higher valuations. Freeport‑McMoRan Inc. (FCX) is Attracting Investor Attention
• Neutral Sentiment: Unrelated sector items (e.g., small‑cap exploration restarts) are being reported in mining/news feeds; these have little direct impact on Freeport but add to overall metals coverage. C3 Metals Restarts Full Exploration Activities in Jamaica
• Negative Sentiment: Multiple law firms have issued class‑action reminders and are soliciting potential lead plaintiffs in a securities‑fraud suit against FCX; ongoing litigation risk can increase uncertainty and pressure the stock if developments accelerate. Faruqi & Faruqi class action reminder
• Negative Sentiment: Additional firms (Frank R. Cruz; Schall Law Firm) posted similar lawsuit/deadline alerts, amplifying headlines around legal exposure and keeping downside risk in focus for investors. Frank R. Cruz class action reminder Schall Law Firm notice

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Johnson Rice cut their price target on Freeport-McMoRan from $55.00 to $48.00 in a research note on Monday, September 29th. UBS Group upped their price objective on shares of Freeport-McMoRan from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. CICC Research reduced their target price on shares of Freeport-McMoRan from $51.60 to $42.30 and set an “outperform” rating for the company in a research note on Friday, September 26th. Scotiabank boosted their price target on shares of Freeport-McMoRan from $47.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, Raymond James Financial increased their price target on shares of Freeport-McMoRan from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, December 31st. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $53.06.

Freeport-McMoRan Stock Performance

The stock’s 50 day moving average price is $46.28 and its two-hundred day moving average price is $44.08. The company has a current ratio of 2.45, a quick ratio of 1.19 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $85.19 billion, a price-to-earnings ratio of 41.78, a PEG ratio of 0.73 and a beta of 1.45.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, October 23rd. The natural resource company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%. The firm had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. On average, analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Thursday, January 15th will be issued a $0.075 dividend. The ex-dividend date is Thursday, January 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is currently 21.13%.

Insider Activity at Freeport-McMoRan

In related news, CAO Stephen T. Higgins sold 28,423 shares of Freeport-McMoRan stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $47.99, for a total transaction of $1,364,019.77. Following the completion of the transaction, the chief accounting officer directly owned 105,294 shares of the company’s stock, valued at approximately $5,053,059.06. The trade was a 21.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Ellie L. Mikes sold 9,572 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $47.66, for a total value of $456,201.52. Following the sale, the chief accounting officer owned 38,761 shares in the company, valued at approximately $1,847,349.26. The trade was a 19.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Freeport-McMoRan

A number of large investors have recently added to or reduced their stakes in FCX. Vanguard Group Inc. lifted its holdings in shares of Freeport-McMoRan by 1.4% in the third quarter. Vanguard Group Inc. now owns 128,760,188 shares of the natural resource company’s stock valued at $5,049,975,000 after purchasing an additional 1,776,241 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Freeport-McMoRan by 1.4% during the 3rd quarter. Fisher Asset Management LLC now owns 63,258,414 shares of the natural resource company’s stock worth $2,480,995,000 after purchasing an additional 899,699 shares during the last quarter. State Street Corp lifted its stake in Freeport-McMoRan by 1.1% in the 3rd quarter. State Street Corp now owns 62,477,910 shares of the natural resource company’s stock valued at $2,450,384,000 after buying an additional 690,736 shares in the last quarter. Wellington Management Group LLP lifted its stake in Freeport-McMoRan by 190.9% in the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after buying an additional 23,950,557 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Freeport-McMoRan by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 21,671,223 shares of the natural resource company’s stock valued at $849,945,000 after buying an additional 435,963 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

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.