Freeport-McMoRan Inc. $FCX Shares Acquired by Nissay Asset Management Corp Japan

Nissay Asset Management Corp Japan increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 4.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 192,452 shares of the natural resource company’s stock after acquiring an additional 7,589 shares during the period. Nissay Asset Management Corp Japan’s holdings in Freeport-McMoRan were worth $12,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in FCX. Strategic Investment Solutions Inc. IL purchased a new stake in Freeport-McMoRan during the 4th quarter valued at approximately $25,000. Steph & Co. lifted its position in Freeport-McMoRan by 43.7% during the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 150 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in shares of Freeport-McMoRan in the 1st quarter valued at approximately $29,000. Kemnay Advisory Services Inc. acquired a new position in shares of Freeport-McMoRan in the fourth quarter valued at approximately $29,000. Finally, SHP Wealth Management acquired a new position in shares of Freeport-McMoRan in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Insider Activity at Freeport-McMoRan

In other news, Director Lydia H. Kennard sold 3,798 shares of the company’s stock in a transaction 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 transaction, the director directly owned 122,702 shares of the company’s stock, valued at $9,706,955.22. This represents a 3.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Stephen T. Higgins sold 14,277 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total transaction of $992,251.50. Following the transaction, the chief accounting officer directly owned 54,618 shares in the company, valued at approximately $3,795,951. This trade represents a 20.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 110,398 shares of company stock valued at $8,387,271 over the last 90 days. Company insiders own 0.73% of the company’s stock.

Freeport-McMoRan Stock Down 2.4%

FCX opened at $76.54 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 50 day simple moving average of $65.46 and a 200-day simple moving average of $64.02. The stock has a market capitalization of $109.91 billion, a P/E ratio of 37.70, a P/E/G ratio of 0.76 and a beta of 1.37. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $80.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $6.62 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, equities analysts anticipate that Freeport-McMoRan Inc. will post 2.79 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th were issued a $0.075 dividend. The ex-dividend date of this dividend 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 (DPR) is 14.78%.

Analyst Upgrades and Downgrades

FCX has been the subject of several analyst reports. Erste Group Bank started coverage on Freeport-McMoRan in a research note on Thursday. They set a “buy” rating for the company. The Goldman Sachs Group lowered their price objective on shares of Freeport-McMoRan from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Stifel Nicolaus upped their price objective 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. Barclays raised their target price on shares of Freeport-McMoRan from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Finally, UBS Group lifted their target price on shares of Freeport-McMoRan from $75.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $70.27.

Freeport-McMoRan News Roundup

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

• Positive Sentiment: Recent performance data shows strong momentum, with FCX gaining significantly over the past month, quarter, and year. Zacks also identifies the stock as a strong momentum name, which may continue attracting trend-focused investors. Freeport McMoRan On Smelter Optimism And Whether The Stock Is Already Priced In Here’s Why Freeport-McMoRan Is a Strong Momentum Stock
• Positive Sentiment: Optimism surrounding Freeport-McMoRan’s smelter operations and favorable copper prices supports the company’s growth outlook. A new Erste Group Bank coverage initiation with a “buy” rating also adds positive analyst sentiment. Erste Group Bank coverage
• Positive Sentiment: FCX recently exceeded quarterly earnings and revenue expectations, reporting $0.74 in earnings per share versus a $0.62 consensus estimate and revenue of $7.03 billion versus $6.62 billion expected. Analysts broadly maintain a “Moderate Buy” view, although the average published price target is below the current trading range.
• Neutral Sentiment: Analysts comparing FCX with BHP Group point to strong copper prices, healthy finances, and ongoing growth projects at both miners. The comparison supports the sector outlook but does not provide a clear company-specific catalyst. FCX versus BHP
• Negative Sentiment: Valuation concerns are weighing on the stock after its copper-fueled rally. While a discounted-cash-flow analysis suggests potential upside, market-multiple measures indicate FCX may be expensive following its strong run. Freeport-McMoRan Stock May Be Pricey After Record Copper Rally
• Negative Sentiment: Executive Vice President Douglas Currault II sold 80,000 shares worth approximately $6.3 million, reducing his holdings by 27.5%. Although the sale may be personal or scheduled, it can reinforce profit-taking concerns when the stock is near record levels. Freeport-McMoRan Insider Selling

About Freeport-McMoRan

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.