Summit Global Investments Sells 30,874 Shares of Freeport-McMoRan Inc. $FCX

Posted by Stanley Muller on Jul 22nd, 2026

Summit Global Investments trimmed its position in shares of Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 58.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,164 shares of the natural resource company’s stock after selling 30,874 shares during the period. Summit Global Investments’ holdings in Freeport-McMoRan were worth $1,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of FCX. Cassaday & Co Wealth Management LLC bought a new stake in shares of Freeport-McMoRan in the first quarter valued at $29,000. Rice Partnership LLC grew its stake in shares of Freeport-McMoRan by 29.6% during the 1st quarter. Rice Partnership LLC now owns 41,820 shares of the natural resource company’s stock worth $2,458,000 after acquiring an additional 9,561 shares during the period. Convergence Investment Partners LLC bought a new position in shares of Freeport-McMoRan during the 1st quarter worth $1,617,000. AlTi Global Inc. purchased a new stake in Freeport-McMoRan in the 1st quarter worth about $282,000. Finally, Hollencrest Capital Management increased its holdings in Freeport-McMoRan by 3.9% in the 1st quarter. Hollencrest Capital Management now owns 47,249 shares of the natural resource company’s stock worth $2,777,000 after acquiring an additional 1,766 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on FCX. JPMorgan Chase & Co. upped their price objective on shares of Freeport-McMoRan from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Citigroup reiterated a “positive” rating on shares of Freeport-McMoRan in a research note on Wednesday, July 15th. CICC Research lowered their price target on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. BNP Paribas Exane upped their price target on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Finally, UBS Group raised their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.95.

View Our Latest Analysis on Freeport-McMoRan

Freeport-McMoRan Price Performance

NYSE:FCX opened at $62.57 on Wednesday. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $72.28. The stock has a fifty day moving average of $63.69 and a 200 day moving average of $62.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. The firm has a market capitalization of $89.94 billion, a price-to-earnings ratio of 33.28, a P/E/G ratio of 0.59 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last announced its earnings results 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. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period in the prior year, the company earned $0.24 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts expect that Freeport-McMoRan Inc. will post 2.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s payout ratio is presently 15.96%.

Key Headlines Impacting Freeport-McMoRan

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

Positive Sentiment: Stifel Nicolaus raised its price target on Freeport-McMoRan from $76 to $80 and kept a buy rating, signaling confidence in further upside for FCX. Article Link
Positive Sentiment: Analysts have increased their earnings forecast for FCX’s upcoming quarter to about $0.60 per share, suggesting stronger profitability even though revenue is expected to decline year over year due to cost discipline and operational efficiency. Article Link
Positive Sentiment: Multiple earnings-preview and sector pieces highlighted FCX as a miner with potential to beat Q2 estimates, helped by stronger commodity prices. Article Link
Positive Sentiment: Coverage around the global AI data center buildout continues to support the long-term copper demand story, with FCX positioned as a key beneficiary if AI infrastructure spending keeps accelerating. Article Link
Neutral Sentiment: Recent articles also discussed FCX’s “copper turning point” and its attention in the copper market, but these were more thematic than immediately actionable for the stock. Article Link

Freeport-McMoRan Company Profile

(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.