Freeport-McMoRan Inc. $FCX Stock: Curated Wealth Partners LLC Trims Position

Curated Wealth Partners LLC lessened its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 95.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,190 shares of the natural resource company’s stock after selling 388,781 shares during the quarter. Curated Wealth Partners LLC’s holdings in Freeport-McMoRan were worth $1,343,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SBE LLC DBA Cedar Cove Wealth Partners purchased a new stake in Freeport-McMoRan in the third quarter valued at $353,000. Nvwm LLC increased its position in Freeport-McMoRan by 68.8% in the 3rd quarter. Nvwm LLC now owns 27,800 shares of the natural resource company’s stock valued at $1,946,000 after acquiring an additional 11,333 shares during the period. Covenant Asset Management LLC acquired a new position in shares of Freeport-McMoRan in the third quarter valued at approximately $213,000. Fort Washington Investment Advisors Inc. OH purchased a new position in Freeport-McMoRan in the 3rd quarter valued at $211,000. Finally, B.A. Schrock Wealth Management Inc. purchased a new position in Freeport-McMoRan in the 3rd quarter valued at $825,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Lydia H. Kennard sold 3,798 shares of the firm’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 completion of the sale, the director directly owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. This trade represents a 3.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the chief accounting officer owned 36,000 shares of the company’s stock, valued at $2,520,000. This represents a 11.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 110,398 shares of company stock valued at $8,387,271. Insiders own 0.73% of the company’s stock.

Freeport-McMoRan Trading Down 0.9%

Shares of FCX traded down $0.60 during mid-day trading on Thursday, reaching $69.02. The company had a trading volume of 8,149,593 shares, compared to its average volume of 16,118,341. The stock has a market cap of $99.11 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 firm has a fifty day simple moving average of $72.09 and a 200-day simple moving average of $66.50. Freeport-McMoRan Inc. has a fifty-two week low of $38.54 and a fifty-two week high of $80.24. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.62 by $0.12. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The firm had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the firm posted $0.54 earnings per share. Freeport-McMoRan’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 2.90 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Freeport-McMoRan from $77.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Stifel Nicolaus upped their target price on Freeport-McMoRan from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Morgan Stanley upped their target price on Freeport-McMoRan from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 7th. BMO Capital Markets increased 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, The Goldman Sachs Group reissued a “buy” rating on shares of Freeport-McMoRan in a research note on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average price target of $76.22.

Freeport-McMoRan News Roundup

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

Freeport-McMoRan Company Profile

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.