146,707 Shares in Freeport-McMoRan Inc. $FCX Bought by OP Asset Management Ltd

OP Asset Management Ltd bought a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 1st quarter, Holdings Channel.com reports. The firm bought 146,707 shares of the natural resource company’s stock, valued at approximately $8,623,000.

Other institutional investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise increased its stake in shares of Freeport-McMoRan by 317.5% in the first quarter. Banque Cantonale Vaudoise now owns 26,952 shares of the natural resource company’s stock valued at $1,584,000 after buying an additional 20,496 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Freeport-McMoRan by 79.8% during the first quarter. Assenagon Asset Management S.A. now owns 5,257,470 shares of the natural resource company’s stock worth $309,034,000 after acquiring an additional 2,332,625 shares during the last quarter. Keudell Morrison Wealth Management lifted its stake in shares of Freeport-McMoRan by 12.9% in the first quarter. Keudell Morrison Wealth Management now owns 12,305 shares of the natural resource company’s stock worth $723,000 after acquiring an additional 1,403 shares during the period. Faithward Advisors LLC lifted its stake in shares of Freeport-McMoRan by 12.5% in the first quarter. Faithward Advisors LLC now owns 7,736 shares of the natural resource company’s stock worth $455,000 after acquiring an additional 858 shares during the period. Finally, CENTRAL TRUST Co boosted its holdings in Freeport-McMoRan by 2.7% in the first quarter. CENTRAL TRUST Co now owns 28,132 shares of the natural resource company’s stock valued at $1,654,000 after acquiring an additional 728 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $62.79 on Friday. The company has a market cap of $90.26 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $72.28. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $64.73 and a 200-day moving average of $60.70.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. Freeport-McMoRan’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 EPS. On average, equities analysts forecast that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan’s payout ratio is 15.96%.

Key Headlines Impacting Freeport-McMoRan

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

• Positive Sentiment: BMO Capital Markets raised its price target on Freeport-McMoRan to $78 from $68 and kept an outperform rating, signaling more upside potential for the stock. BMO Capital adjusts price target on Freeport-McMoRan
• Positive Sentiment: Freeport-McMoRan declared a quarterly cash dividend of $0.15 per share, which includes both a base dividend and a variable dividend, reinforcing shareholder returns and reflecting confidence in cash generation. Freeport declares quarterly cash dividends
• Positive Sentiment: FCX has been showing relative strength versus the broader market, with recent trading action indicating the stock has been rising while the market has dipped. FCX gains as market dips
• Neutral Sentiment: Freeport-McMoRan is also being highlighted as one of the most watched stocks on Zacks, suggesting elevated investor interest, but not necessarily a direct fundamental catalyst. FCX is attracting investor attention
• Neutral Sentiment: Some market commentary says FCX underperformed competitors on Tuesday, which may point to normal trading rotation rather than a major negative company event. Freeport-McMoRan stock underperforms Tuesday when compared to competitors

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FCX. Bank of America increased their target price on shares of Freeport-McMoRan from $68.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Morgan Stanley reiterated an “equal weight” rating and set a $66.00 price objective (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday, April 24th. The Goldman Sachs Group lifted their target price on shares of Freeport-McMoRan from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. BNP Paribas Exane upped their price target on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Finally, Scotiabank upped their price target on shares of Freeport-McMoRan from $67.00 to $77.00 and gave the company a “sector outperform” rating in a research report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.27.

Freeport-McMoRan Profile

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.