22,824 Freeport-McMoRan Inc. $FCX Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 9.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 207,160 shares of the natural resource company’s stock after selling 22,824 shares during the quarter. State of Alaska Department of Revenue’s holdings in Freeport-McMoRan were worth $14,501,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Freeport-McMoRan by 3.6% during the second quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock valued at $4,181,268,000 after purchasing an additional 2,300,416 shares in the last quarter. Bank of America Corp DE increased its holdings in Freeport-McMoRan by 20.0% during the first quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock valued at $2,489,069,000 after buying an additional 7,044,775 shares during the period. Wellington Management Group LLP increased its holdings in Freeport-McMoRan by 13.8% during the second quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company’s stock valued at $938,197,000 after buying an additional 1,810,698 shares during the period. Amundi raised its stake in Freeport-McMoRan by 10.5% in the second quarter. Amundi now owns 11,819,898 shares of the natural resource company’s stock worth $743,353,000 after buying an additional 1,125,982 shares in the last quarter. Finally, Jupiter Topco LLC bought a new position in Freeport-McMoRan in the second quarter worth approximately $739,890,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

FCX stock traded down $0.61 during trading on Thursday, reaching $69.01. The company had a trading volume of 8,375,706 shares, compared to its average volume of 16,119,832. The company has a market cap of $99.10 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 0.68 and a beta of 1.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 2.07. Freeport-McMoRan Inc. has a twelve month low of $38.54 and a twelve month high of $80.24. The firm has a 50-day simple moving average of $72.09 and a 200-day simple moving average of $66.50.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 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 firm had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s revenue was down 7.3% compared to the same quarter last year. As a group, sell-side analysts expect that Freeport-McMoRan Inc. will post 2.90 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be issued a $0.0750 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, October 15th. Freeport-McMoRan’s payout ratio is 14.78%.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: A halt at Freeport-McMoRan’s Grasberg operation could tighten global copper supply if it persists. Reduced supply may support copper prices and improve the outlook for FCX’s realized pricing and cash flow. However, the disruption could also temporarily reduce production. Does the Grasberg Halt Tighten Copper for Freeport-McMoRan?
• Positive Sentiment: Scotiabank raised its Freeport-McMoRan EPS forecasts to $3.35 for FY2026 from $3.06 and to $2.86 for FY2027 from $2.62. The revisions suggest improving expectations for copper markets, production, costs or some combination of those factors.
• Positive Sentiment: Erste Group Bank also increased its FY2027 EPS estimate to $4.32 from $4.00 and maintained a Buy rating, providing a favorable long-term analyst signal.
• Neutral Sentiment: The reports describing FCX’s steeper decline than the broader market largely document the share-price performance rather than identify a new fundamental deterioration. Freeport-McMoRan Falls More Steeply Than Broader Market
• Negative Sentiment: Technical commentary argues that FCX’s rally looks tired and that consolidation is likely. This may encourage short-term investors to take profits, particularly with the stock below its 50-day moving average. Freeport-McMoRan Rally Looks Tired

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings upgraded Freeport-McMoRan from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Bank of America lifted their price target on Freeport-McMoRan from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, July 9th. UBS Group boosted their price target on Freeport-McMoRan from $77.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. The Goldman Sachs Group restated a “buy” rating on shares of Freeport-McMoRan in a research note on Thursday, September 10th. Finally, BNP Paribas Exane raised their price objective on Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. One research 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 stock. Based on data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $76.22.

Insider Buying and Selling

In other news, Director Lydia H. Kennard sold 3,798 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was 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 $9,706,955.22. This trade represents a 3.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas N. Currault II sold 80,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total value of $6,284,800.00. Following the transaction, the executive vice president owned 211,016 shares in the company, valued at $16,577,416.96. This trade represents a 27.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 110,398 shares of company stock valued at $8,387,271. Insiders own 0.73% of the company’s stock.

About Freeport-McMoRan

Freeport-McMoRan Inc (NYSE: FCX) is a leading international 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 systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.