Freeport-McMoRan Inc. $FCX Shares Newly Purchased by NBT Bank N.A.

NBT Bank N.A. purchased a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,729 shares of the natural resource company’s stock, valued at approximately $611,000.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Freeport-McMoRan by 3.6% during the 2nd quarter. State Street Corp now owns 66,485,424 shares of the natural resource company’s stock worth $4,181,268,000 after acquiring an additional 2,300,416 shares during the period. Bank of America Corp DE grew its stake in shares of Freeport-McMoRan by 20.0% in the 1st 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 purchasing an additional 7,044,775 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Freeport-McMoRan by 13.8% in the 2nd quarter. Wellington Management Group LLP now owns 14,918,066 shares of the natural resource company’s stock valued at $938,197,000 after purchasing an additional 1,810,698 shares during the last quarter. Amundi increased its holdings in shares of Freeport-McMoRan by 10.5% in the second quarter. Amundi now owns 11,819,898 shares of the natural resource company’s stock valued at $743,353,000 after purchasing an additional 1,125,982 shares during the period. Finally, Jupiter Topco LLC acquired a new position in shares of Freeport-McMoRan in the second quarter valued at approximately $739,890,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Key Stories Impacting Freeport-McMoRan

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

• Positive Sentiment: FCX has delivered four consecutive earnings beats, and strong copper prices are expected to support third-quarter results despite lower sales volumes and higher costs. The earnings preview also highlights estimates for production and other operating metrics that could influence the stock beyond headline revenue and EPS. FCX to Report Q3 Earnings: What’s in the Cards for the Stock?
• Positive Sentiment: Erste Group Bank raised its FY2026 EPS forecast for Freeport-McMoRan to $3.19 from $3.10 and maintained a Buy rating. The revised estimate is above the broader consensus of $2.99, providing a favorable analyst signal ahead of earnings.
• Positive Sentiment: HSBC reportedly assigned FCX a $77 price target ahead of the company’s October 27 results, suggesting potential upside if copper-market conditions and quarterly execution meet expectations. HSBC sets USD 77 target before October 27 results

Insider Transactions at Freeport-McMoRan

In related news, CAO Stephen Higgins sold 14,277 shares of Freeport-McMoRan 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 completion of the transaction, the chief accounting officer directly owned 54,618 shares of the company’s stock, valued at approximately $3,795,951. The trade was a 20.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Douglas Currault, II sold 80,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the completion of the sale, the executive vice president owned 211,016 shares in the company, valued at $16,577,416.96. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 110,398 shares of company stock worth $8,387,271 over the last quarter. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FCX shares. Freedom Broker cut Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Barclays lifted their price objective on shares of Freeport-McMoRan from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 19th. Stifel Nicolaus boosted their price objective on shares of 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 boosted their price objective on shares of Freeport-McMoRan from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 7th. Finally, Weiss Ratings upgraded shares of Freeport-McMoRan from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus target price of $76.27.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $65.20 on Friday. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $72.02 and its two-hundred day moving average is $66.90. Freeport-McMoRan Inc. has a 12-month low of $38.54 and a 12-month high of $80.24. The stock has a market capitalization of $93.63 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 0.58 and a beta of 1.39.

Freeport-McMoRan (NYSE:FCX) last issued 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. The business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. Research analysts expect that Freeport-McMoRan Inc. will post 3.05 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be issued a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio is currently 14.78%.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc (NYSE: FCX) is a global mining company primarily engaged in the exploration, development, and production of copper. Copper is used extensively in electrical wiring, construction, transportation, renewable energy systems, and other industrial applications. The company also produces gold and molybdenum, a metal used in steelmaking and other industrial processes, as well as certain other byproducts.

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