The Manufacturers Life Insurance Company grew its stake in Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 4.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,687,524 shares of the natural resource company’s stock after buying an additional 117,888 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Freeport-McMoRan were worth $169,018,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in Freeport-McMoRan by 6,434.3% in the 2nd quarter. California State Teachers Retirement System now owns 142,181,964 shares of the natural resource company’s stock valued at $8,941,824,000 after acquiring an additional 140,006,047 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of Freeport-McMoRan in the second quarter valued at about $739,890,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Freeport-McMoRan by 98.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company’s stock valued at $1,014,434,000 after purchasing an additional 9,924,573 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Freeport-McMoRan by 31.2% during the fourth quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock worth $1,897,202,000 after buying an additional 8,891,743 shares during the period. Finally, Amundi boosted its position in shares of Freeport-McMoRan by 102.5% during the fourth quarter. Amundi now owns 14,211,579 shares of the natural resource company’s stock worth $721,806,000 after buying an additional 7,192,955 shares during the period. Institutional investors own 80.77% of the company’s stock.
Freeport-McMoRan Trading Down 6.7%
Shares of Freeport-McMoRan stock opened at $71.15 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92. The business has a fifty day simple moving average of $67.41 and a two-hundred day simple moving average of $64.70. Freeport-McMoRan Inc. has a 1 year low of $35.15 and a 1 year high of $80.24. The company has a market capitalization of $102.18 billion, a price-to-earnings ratio of 35.05, a P/E/G ratio of 0.75 and a beta of 1.41.
Freeport-McMoRan Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Wednesday, July 15th were paid a $0.075 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan’s dividend payout ratio is 14.78%.
Key Freeport-McMoRan News
Here are the key news stories impacting Freeport-McMoRan this week:
- Positive Sentiment: Longer term, Freeport-McMoRan remains positioned to benefit from strong copper demand tied to artificial-intelligence data centers, power-grid upgrades and renewable-energy infrastructure. Copper supply is also constrained by declining mine output, operational disruptions and smelter bottlenecks. Copper’s Record Rally Highlights a Deeper Supply Problem
- Positive Sentiment: Recent earnings demonstrated operating leverage: FCX reported quarterly earnings of $0.74 per share versus the $0.62 consensus estimate, while revenue also exceeded expectations. Analysts’ average rating remains Moderate Buy, with some price targets above the current trading level. Freeport-McMoRan earnings report
- Neutral Sentiment: Investors remain focused on whether the structural copper shortage can outweigh near-term demand weakness. Elevated prices have caused some buyers, particularly in China, to delay purchases, while copper inventories and trade flows remain sensitive to policy developments. Copper miners and oil market article
- Negative Sentiment: Uncertainty surrounding White House plans for copper tariffs triggered a broad pullback in copper-related equities, reversing part of the metal’s recent record rally. Rising Treasury yields, a stronger dollar and pressure across precious and industrial metals added to the selling. Freeport-McMoRan Stock Drops on Copper Tariff Uncertainty
Insider Activity at Freeport-McMoRan
In other news, CAO Stephen T. Higgins sold 14,277 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total value of $992,251.50. Following the transaction, the chief accounting officer owned 54,618 shares of the company’s stock, valued at approximately $3,795,951. This represents a 20.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lydia H. Kennard sold 3,798 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $79.11, for a total value of $300,459.78. Following the transaction, the director owned 122,702 shares in the company, valued at approximately $9,706,955.22. This trade represents a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 110,398 shares of company stock valued at $8,387,271 in the last 90 days. Insiders own 0.73% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Freeport-McMoRan from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Morgan Stanley boosted their target price on Freeport-McMoRan from $66.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. upped their price target on Freeport-McMoRan from $73.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. 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 research note on Tuesday, June 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $78.00 price objective on shares of Freeport-McMoRan in a report on Thursday, July 23rd. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.75.
View Our Latest Stock Analysis on Freeport-McMoRan
About Freeport-McMoRan
Freeport-McMoRan Inc is a global 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 wiring, construction, transportation, industrial equipment and renewable-energy technologies. The company also produces gold as a byproduct of its copper operations and molybdenum, an alloying metal used in steelmaking and other industrial applications.
Freeport-McMoRan operates major mining and processing assets in North America, South America and Indonesia.
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