University of Texas Texas AM Investment Management Co. increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 25.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,699 shares of the natural resource company’s stock after buying an additional 11,615 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in Freeport-McMoRan were worth $4,039,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. TOWER TRUST & INVESTMENT Co boosted its stake in Freeport-McMoRan by 1.3% in the third quarter. TOWER TRUST & INVESTMENT Co now owns 12,177 shares of the natural resource company’s stock valued at $852,000 after acquiring an additional 157 shares during the last quarter. Richardson Financial Services Inc. grew its position in shares of Freeport-McMoRan by 11.6% during the 2nd quarter. Richardson Financial Services Inc. now owns 1,539 shares of the natural resource company’s stock valued at $97,000 after acquiring an additional 160 shares during the period. Breakwater Capital Group grew its position in shares of Freeport-McMoRan by 1.0% during the 3rd quarter. Breakwater Capital Group now owns 15,930 shares of the natural resource company’s stock valued at $1,115,000 after acquiring an additional 160 shares during the period. Signature Wealth Management Partners LLC grew its position in shares of Freeport-McMoRan by 1.4% during the 3rd quarter. Signature Wealth Management Partners LLC now owns 12,271 shares of the natural resource company’s stock valued at $859,000 after acquiring an additional 166 shares during the period. Finally, Fiduciary Financial Group LLC increased its stake in shares of Freeport-McMoRan by 2.6% during the 2nd quarter. Fiduciary Financial Group LLC now owns 6,788 shares of the natural resource company’s stock worth $427,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently commented on FCX. Wells Fargo & Company lowered their price target on shares of Freeport-McMoRan from $87.00 to $79.00 and set an “overweight” rating on the stock in a report on Wednesday, October 28th. Barclays upped their price objective on Freeport-McMoRan from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. Wall Street Zen lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. BMO Capital Markets raised their target price on Freeport-McMoRan from $78.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Finally, Royal Bank Of Canada raised their target price on Freeport-McMoRan from $73.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $75.30.
View Our Latest Research Report on Freeport-McMoRan
Key Headlines Impacting Freeport-McMoRan
Here are the key news stories impacting Freeport-McMoRan this week:
- Positive Sentiment: Freeport approved a $4.5 billion expansion of its Bagdad mine in Arizona. The project aims to more than double mining and milling rates, increase copper and molybdenum output, and reduce long-term unit costs by about 20%—potentially supporting future growth and margins. Article: Freeport’s $4.5 Billion Bagdad Expansion to Boost U.S. Production
- Negative Sentiment: The project’s substantial capital cost, alongside higher capital-spending guidance, has raised near-term concerns and reportedly pressured shares after the company’s third-quarter results. Scotiabank also lowered its FY2026 and FY2027 EPS estimates to $3.20 and $2.57, respectively, though it kept a Sector Outperform rating and a $78 price target. Article: Powering Up: Freeport-McMoRan’s $4.5B Copper Expansion
Insider Activity at Freeport-McMoRan
In related news, Director Lydia Kennard sold 3,798 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.11, for a total transaction of $300,459.78. Following the sale, the director directly owned 122,702 shares in the company, valued at approximately $9,706,955.22. This represents a 3.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Douglas Currault, II sold 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the sale, the executive vice president owned 211,016 shares in the company, valued at $16,577,416.96. The trade was a 27.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.73% of the company’s stock.
Freeport-McMoRan Trading Down 0.1%
Shares of Freeport-McMoRan stock opened at $59.36 on Monday. The stock has a market capitalization of $85.25 billion, a P/E ratio of 24.94, a P/E/G ratio of 0.55 and a beta of 1.38. Freeport-McMoRan Inc. has a 52-week low of $38.75 and a 52-week high of $80.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 2.02. The stock’s 50-day simple moving average is $69.84 and its 200 day simple moving average is $65.27.
Freeport-McMoRan (NYSE:FCX – Get Free Report) last issued its earnings results on Tuesday, October 27th. The natural resource company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.36 billion. Freeport-McMoRan had a net margin of 13.03% and a return on equity of 12.09%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $0.50 earnings per share. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 3.02 EPS for the current year.
Freeport-McMoRan Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th were given a $0.0750 dividend. The ex-dividend date of this dividend was Thursday, October 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s payout ratio is 12.61%.
About Freeport-McMoRan
Freeport-McMoRan Inc is a mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Its products serve industries including construction, manufacturing, electronics and energy.
The company operates mines and related facilities in North America, South America and Indonesia. Its assets include the Grasberg minerals district in Indonesia and copper operations in the United States, Peru and Chile.
Freeport-McMoRan traces its roots to Freeport Sulphur Company, founded in 1912, and has since developed into a major international mining business.
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