Legacy Wealth Management LLC MS lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 151.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,942 shares of the natural resource company’s stock after acquiring an additional 8,407 shares during the period. Legacy Wealth Management LLC MS’s holdings in Freeport-McMoRan were worth $877,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV grew its holdings in Freeport-McMoRan by 49.0% during the fourth quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock worth $11,267,000 after buying an additional 73,002 shares in the last quarter. Fifth Third Bancorp lifted its stake in Freeport-McMoRan by 34.5% during the 1st quarter. Fifth Third Bancorp now owns 1,062,916 shares of the natural resource company’s stock valued at $62,478,000 after acquiring an additional 272,726 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Freeport-McMoRan during the 4th quarter valued at $8,857,000. Franklin Resources Inc. boosted its holdings in Freeport-McMoRan by 31.2% during the 4th quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock worth $1,897,202,000 after acquiring an additional 8,891,743 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Freeport-McMoRan by 205.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 317,429 shares of the natural resource company’s stock worth $16,122,000 after acquiring an additional 213,477 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.
Insider Transactions at Freeport-McMoRan
In related news, CAO Stephen T. Higgins sold 14,277 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total value of $992,251.50. Following the completion of the transaction, the chief accounting officer directly owned 54,618 shares in the company, valued at approximately $3,795,951. The trade was a 20.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ellie L. Mikes sold 4,773 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $70.00, for a total transaction of $334,110.00. Following the sale, the chief accounting officer directly owned 36,000 shares in the company, valued at $2,520,000. The trade was a 11.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,600 shares of company stock worth $1,802,012 over the last 90 days. 0.73% of the stock is currently owned by company insiders.
More Freeport-McMoRan News
- Positive Sentiment: Freeport-McMoRan declared a quarterly dividend of $0.075 per share, equivalent to $0.30 annually and a yield of approximately 0.4%. The dividend provides a modest income component for shareholders. Freeport-McMoRan Declares Dividend
- Positive Sentiment: Market attention remains centered on FCX’s copper exposure, with demand expectations tied to electrification, power-grid investment, electric vehicles and data-center infrastructure. Copper and gold prices and outlooks remain important potential catalysts. Why Freeport-McMoRan Is Drawing Copper Attention
- Positive Sentiment: Unusually high options activity indicates heightened trader interest and potentially bullish speculation in FCX, though options positioning can also increase short-term volatility. Freeport-McMoRan Target of Unusually High Options Trading
- Neutral Sentiment: Zacks Research raised its FY2026 EPS forecast to $2.52 from $2.43 and its Q1 2027 estimate to $0.85 from $0.75. However, the firm maintained its current-year consensus reference at $2.75, making the broader earnings signal mixed.
- Negative Sentiment: Zacks cut several forward estimates, including Q3 and Q4 2026 EPS to $0.63 and $0.58, FY2027 EPS to $3.54 from $3.65, and FY2028 EPS to $3.52 from $3.82. The reductions may raise concerns about production, commodity-price or cost assumptions.
- Negative Sentiment: Chief Accounting Officer Ellie Mikes sold 4,773 shares for approximately $334,110, reducing her direct holdings by 11.71%. The sale is a modest negative sentiment signal, though it may reflect personal financial planning rather than weaker company fundamentals. Ellie Mikes Sells FCX Shares
Freeport-McMoRan Price Performance
Shares of NYSE FCX opened at $69.67 on Friday. The stock has a fifty day simple moving average of $64.03 and a two-hundred day simple moving average of $62.85. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $72.28. The firm has a market cap of $100.16 billion, a price-to-earnings ratio of 34.32, a price-to-earnings-growth ratio of 0.70 and a beta of 1.37. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.
Freeport-McMoRan (NYSE:FCX – Get Free Report) last issued its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.12. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.The firm had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The business’s revenue was down 7.3% on a year-over-year basis. Analysts anticipate that Freeport-McMoRan Inc. will post 2.76 earnings per share for the current year.
Freeport-McMoRan Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Wednesday, July 15th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, July 15th. Freeport-McMoRan’s payout ratio is currently 14.78%.
Analyst Ratings Changes
FCX has been the subject of several analyst reports. Raymond James Financial lowered their target price on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Sanford C. Bernstein boosted their price target on shares of Freeport-McMoRan from $53.50 to $58.50 and gave the stock a “market perform” rating in a report on Wednesday, June 10th. Morgan Stanley upped their price objective on shares of Freeport-McMoRan from $66.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Jefferies Financial Group increased their price objective on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Finally, Stifel Nicolaus lifted their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.27.
Check Out Our Latest Report on Freeport-McMoRan
Freeport-McMoRan Company 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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