Matthews International Capital Management LLC lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 1,095.9% during the first quarter, Holdings Channel reports. The fund owned 87,936 shares of the natural resource company’s stock after acquiring an additional 80,583 shares during the quarter. Freeport-McMoRan accounts for 2.1% of Matthews International Capital Management LLC’s holdings, making the stock its 19th largest position. Matthews International Capital Management LLC’s holdings in Freeport-McMoRan were worth $5,169,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its holdings in Freeport-McMoRan by 98.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company’s stock valued at $1,014,434,000 after purchasing an additional 9,924,573 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Freeport-McMoRan by 31.2% in the fourth quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock worth $1,897,202,000 after buying an additional 8,891,743 shares during the last quarter. Amundi lifted its stake in shares of Freeport-McMoRan by 102.5% in the fourth quarter. Amundi now owns 14,211,579 shares of the natural resource company’s stock worth $721,806,000 after buying an additional 7,192,955 shares during the last quarter. PointState Capital LP bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth $198,523,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Freeport-McMoRan by 28.9% during the 4th quarter. Victory Capital Management Inc. now owns 17,366,596 shares of the natural resource company’s stock worth $882,050,000 after buying an additional 3,894,872 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
FCX has been the topic of several recent analyst reports. Raymond James Financial dropped their target price on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Barclays assumed coverage on shares of Freeport-McMoRan in a report on Thursday, May 21st. They set an “overweight” rating and a $77.00 price target for the company. UBS Group raised their price target on Freeport-McMoRan from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. lifted their price objective on Freeport-McMoRan from $73.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Sanford C. Bernstein boosted their price objective on Freeport-McMoRan from $53.50 to $58.50 and gave the stock a “market perform” rating in a research report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.63.
Key Freeport-McMoRan News
Here are the key news stories impacting Freeport-McMoRan this week:
- Positive Sentiment: Bank of America raised its price target on Freeport-McMoRan to $80 from $74 and kept a buy rating, while JPMorgan lifted its target to $77 and maintained an overweight view, signaling stronger Wall Street confidence in FCX’s upside. Freeport-McMoRan (NYSE:FCX) Given New $80.00 Price Target at Bank of America
- Positive Sentiment: Scotiabank also increased its FY2026 EPS estimate for FCX to $3.01 from $2.60 and reiterated a Sector Outperform rating, reinforcing the view that earnings expectations are improving. Freeport-McMoRan Inc. (NYSE:FCX)
- Positive Sentiment: Recent coverage notes that copper demand remains strong due to electrification, grid expansion, and data center growth, which is supportive for Freeport-McMoRan as a major copper producer. Freeport McMoRan (FCX) Faces Grasberg Output Pressure As Copper Demand Stays Strong
- Neutral Sentiment: Analysts continue to flag FCX as a closely watched materials stock, and several articles highlight valuation debates and fair-value estimates rather than a major new catalyst. Is Freeport-McMoRan (FCX) Stock Cheap After The 2026 Guidance Cut?
- Neutral Sentiment: Freeport-McMoRan’s board declared a $0.15 per share cash dividend, which may appeal to income investors but is not a major surprise for the stock. Freeport-McMoRan (FCX) Declared A Cash Dividend, Is It Still 19% Undervalued?
- Negative Sentiment: There are also ongoing concerns about output pressure at the Grasberg mine, which could limit near-term production even as demand stays firm. Freeport McMoRan (FCX) Faces Grasberg Output Pressure As Copper Demand Stays Strong
Freeport-McMoRan Stock Performance
NYSE:FCX opened at $61.44 on Monday. The firm’s 50-day moving average is $63.85 and its 200-day moving average is $61.73. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $72.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. The company has a market cap of $88.32 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 0.62 and a beta of 1.37.
Freeport-McMoRan (NYSE:FCX – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 2.68 earnings per share for the current year.
Freeport-McMoRan Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is 15.96%.
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.
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