Freeport-McMoRan Inc. $FCX Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 18.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 345,568 shares of the natural resource company’s stock after purchasing an additional 53,009 shares during the quarter. NewEdge Advisors LLC’s holdings in Freeport-McMoRan were worth $21,733,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Baird Financial Group Inc. lifted its stake in shares of Freeport-McMoRan by 79.6% during the second quarter. Baird Financial Group Inc. now owns 149,757 shares of the natural resource company’s stock valued at $9,418,000 after buying an additional 66,362 shares during the period. Allworth Financial LP grew its stake in Freeport-McMoRan by 17.3% in the 2nd quarter. Allworth Financial LP now owns 43,514 shares of the natural resource company’s stock worth $2,737,000 after acquiring an additional 6,418 shares during the period. Arizona State Retirement System grew its stake in Freeport-McMoRan by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 398,796 shares of the natural resource company’s stock worth $25,080,000 after acquiring an additional 5,434 shares during the period. West Family Investments Inc. raised its holdings in Freeport-McMoRan by 228.4% in the 2nd quarter. West Family Investments Inc. now owns 11,197 shares of the natural resource company’s stock valued at $704,000 after acquiring an additional 7,787 shares during the last quarter. Finally, Waverly Advisors LLC raised its holdings in Freeport-McMoRan by 873.9% in the 2nd quarter. Waverly Advisors LLC now owns 575,549 shares of the natural resource company’s stock valued at $36,196,000 after acquiring an additional 516,450 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on FCX. JPMorgan Chase & Co. lifted their price target on Freeport-McMoRan from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. BMO Capital Markets reiterated an “outperform” rating and set a $78.00 price objective on shares of Freeport-McMoRan in a report on Thursday, July 23rd. Jefferies Financial Group raised their target price on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Scotiabank boosted their target price on shares of Freeport-McMoRan from $67.00 to $77.00 and gave the company a “sector outperform” rating in a report on Monday, June 15th. Finally, BNP Paribas Exane upped their price target on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average price target of $69.75.

Key Headlines Impacting Freeport-McMoRan

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 Buying and Selling at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 4,773 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $334,110.00. Following the transaction, the chief accounting officer directly owned 36,000 shares in the company, valued at approximately $2,520,000. This trade represents a 11.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lydia H. Kennard sold 3,798 shares of the business’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 value of $300,459.78. Following the transaction, the director 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 SEC filing for this sale provides additional information. In the last three months, insiders sold 110,398 shares of company stock worth $8,387,271. Company insiders own 0.73% of the company’s stock.

Freeport-McMoRan Stock Down 6.7%

NYSE FCX opened at $71.15 on Friday. The company has a quick ratio of 0.92, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. Freeport-McMoRan Inc. has a fifty-two week low of $35.15 and a fifty-two week high of $80.24. The business has a 50 day moving average price of $67.41 and a two-hundred day moving average price of $64.70. The stock has a market cap of $102.18 billion, a PE ratio of 35.05, a P/E/G ratio of 0.75 and a beta of 1.41.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, topping 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 business 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 earned $0.54 earnings per share. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. As a group, sell-side analysts predict that Freeport-McMoRan Inc. will post 2.81 EPS for the current fiscal 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 dividend of $0.075 per share. The ex-dividend date was Wednesday, July 15th. This represents a $0.30 annualized dividend and a yield of 0.4%. Freeport-McMoRan’s dividend payout ratio (DPR) is 14.78%.

Freeport-McMoRan Profile

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.