Geode Capital Management LLC Buys 238,997 Shares of Freeport-McMoRan Inc. $FCX

Posted by Francis Steltz on May 29th, 2026

Geode Capital Management LLC lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 31,669,550 shares of the natural resource company’s stock after purchasing an additional 238,997 shares during the period. Geode Capital Management LLC’s holdings in Freeport-McMoRan were worth $1,601,087,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Freeport-McMoRan by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 130,332,957 shares of the natural resource company’s stock worth $6,619,611,000 after acquiring an additional 1,572,769 shares during the period. Fisher Asset Management LLC grew its stake in shares of Freeport-McMoRan by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 63,880,757 shares of the natural resource company’s stock worth $3,244,504,000 after acquiring an additional 622,343 shares during the period. State Street Corp grew its stake in shares of Freeport-McMoRan by 1.1% in the third quarter. State Street Corp now owns 62,477,910 shares of the natural resource company’s stock worth $2,450,384,000 after acquiring an additional 690,736 shares during the period. Wellington Management Group LLP grew its stake in shares of Freeport-McMoRan by 190.9% in the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock worth $1,431,326,000 after acquiring an additional 23,950,557 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Freeport-McMoRan by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 21,671,223 shares of the natural resource company’s stock worth $849,945,000 after acquiring an additional 435,963 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Up 3.6%

FCX opened at $65.95 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $70.96. The company has a market capitalization of $94.80 billion, a PE ratio of 35.08, a PEG ratio of 0.77 and a beta of 1.32. The firm’s 50 day simple moving average is $61.90 and its two-hundred day simple moving average is $57.15.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period last year, the firm earned $0.24 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s payout ratio is presently 15.96%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FCX. Raymond James Financial cut their price target on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, April 24th. Bank of America boosted their price target on Freeport-McMoRan from $68.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. BNP Paribas Exane cut their price target on Freeport-McMoRan from $75.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, April 28th. Weiss Ratings upgraded Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Finally, UBS Group upped their target price on shares of Freeport-McMoRan from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.72.

Get Our Latest Stock Report on Freeport-McMoRan

About Freeport-McMoRan

(Free Report)

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.