KLCM Advisors Inc. bought a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,356 shares of the natural resource company’s stock, valued at approximately $668,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its stake in shares of Freeport-McMoRan by 7.9% during the first quarter. Pinnacle Bancorp Inc. now owns 2,011 shares of the natural resource company’s stock worth $118,000 after acquiring an additional 147 shares during the last quarter. Steph & Co. raised its position in shares of Freeport-McMoRan by 43.7% in the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 150 shares during the last quarter. Essex Bank boosted its stake in Freeport-McMoRan by 1.2% in the 1st quarter. Essex Bank now owns 14,104 shares of the natural resource company’s stock worth $829,000 after purchasing an additional 163 shares in the last quarter. Leo Wealth LLC grew its position in Freeport-McMoRan by 2.5% during the 4th quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock worth $347,000 after purchasing an additional 170 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. grew its position in Freeport-McMoRan by 0.9% during the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 18,674 shares of the natural resource company’s stock worth $1,098,000 after purchasing an additional 175 shares during the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.
Freeport-McMoRan News Roundup
Here are the key news stories impacting Freeport-McMoRan this week:
- Positive Sentiment: Bank of America raised its price target on Freeport-McMoRan to $80 from $74 and kept a buy rating, while JPMorgan lifted its target to $77 and maintained an overweight view, signaling stronger Wall Street confidence in FCX’s upside. Freeport-McMoRan (NYSE:FCX) Given New $80.00 Price Target at Bank of America
- Positive Sentiment: Scotiabank also increased its FY2026 EPS estimate for FCX to $3.01 from $2.60 and reiterated a Sector Outperform rating, reinforcing the view that earnings expectations are improving. Freeport-McMoRan Inc. (NYSE:FCX)
- Positive Sentiment: Recent coverage notes that copper demand remains strong due to electrification, grid expansion, and data center growth, which is supportive for Freeport-McMoRan as a major copper producer. Freeport McMoRan (FCX) Faces Grasberg Output Pressure As Copper Demand Stays Strong
- Neutral Sentiment: Analysts continue to flag FCX as a closely watched materials stock, and several articles highlight valuation debates and fair-value estimates rather than a major new catalyst. Is Freeport-McMoRan (FCX) Stock Cheap After The 2026 Guidance Cut?
- Neutral Sentiment: Freeport-McMoRan’s board declared a $0.15 per share cash dividend, which may appeal to income investors but is not a major surprise for the stock. Freeport-McMoRan (FCX) Declared A Cash Dividend, Is It Still 19% Undervalued?
- Negative Sentiment: There are also ongoing concerns about output pressure at the Grasberg mine, which could limit near-term production even as demand stays firm. Freeport McMoRan (FCX) Faces Grasberg Output Pressure As Copper Demand Stays Strong
Freeport-McMoRan Stock Performance
Freeport-McMoRan (NYSE:FCX – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 earnings per share. On average, sell-side analysts forecast that Freeport-McMoRan Inc. will post 2.63 EPS for the current fiscal year.
Freeport-McMoRan Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan’s payout ratio is 15.96%.
Analysts Set New Price Targets
FCX has been the subject of a number of research analyst reports. UBS Group raised their price target on shares of Freeport-McMoRan from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. 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 report on Thursday, June 18th. BMO Capital Markets upped their target price on Freeport-McMoRan from $68.00 to $78.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. Finally, Jefferies Financial Group lifted their price target on Freeport-McMoRan from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $68.63.
Read Our Latest Analysis on FCX
Freeport-McMoRan Profile
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.
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