Temasek Holdings Private Ltd Grows Position in Freeport-McMoRan Inc. $FCX

Temasek Holdings Private Ltd grew its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 10.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 669,247 shares of the natural resource company’s stock after acquiring an additional 66,038 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Freeport-McMoRan were worth $39,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. raised its stake in Freeport-McMoRan by 7.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 2,011 shares of the natural resource company’s stock valued at $118,000 after purchasing an additional 147 shares during the last quarter. Steph & Co. boosted its stake in shares of Freeport-McMoRan by 43.7% during the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock worth $29,000 after purchasing an additional 150 shares during the last quarter. Essex Bank grew its holdings in shares of Freeport-McMoRan by 1.2% during the first quarter. Essex Bank now owns 14,104 shares of the natural resource company’s stock worth $829,000 after buying an additional 163 shares in the last quarter. Leo Wealth LLC grew its holdings in shares of Freeport-McMoRan by 2.5% during the fourth quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock worth $347,000 after buying an additional 170 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. raised its position in shares of Freeport-McMoRan by 0.9% in the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 18,674 shares of the natural resource company’s stock valued at $1,098,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

More Freeport-McMoRan News

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

• Positive Sentiment: Stifel Nicolaus raised its price target on Freeport-McMoRan from $76 to $80 and kept a buy rating, signaling confidence in further upside for FCX. Article Link
• Positive Sentiment: Analysts have increased their earnings forecast for FCX’s upcoming quarter to about $0.60 per share, suggesting stronger profitability even though revenue is expected to decline year over year due to cost discipline and operational efficiency. Article Link
• Positive Sentiment: Multiple earnings-preview and sector pieces highlighted FCX as a miner with potential to beat Q2 estimates, helped by stronger commodity prices. Article Link
• Positive Sentiment: Coverage around the global AI data center buildout continues to support the long-term copper demand story, with FCX positioned as a key beneficiary if AI infrastructure spending keeps accelerating. Article Link
• Neutral Sentiment: Recent articles also discussed FCX’s “copper turning point” and its attention in the copper market, but these were more thematic than immediately actionable for the stock. Article Link

Freeport-McMoRan Trading Up 6.4%

Shares of FCX stock opened at $62.57 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. Freeport-McMoRan Inc. has a fifty-two week low of $35.15 and a fifty-two week high of $72.28. The firm’s 50 day moving average price is $63.69 and its two-hundred day moving average price is $62.15. The stock has a market cap of $89.94 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 0.59 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The company 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 business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts anticipate that Freeport-McMoRan Inc. will post 2.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given a dividend of $0.075 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 Wednesday, July 15th. Freeport-McMoRan’s dividend payout ratio is 15.96%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FCX shares. Weiss Ratings downgraded shares of Freeport-McMoRan from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freeport-McMoRan in a report on Friday, May 15th. Barclays raised their price objective on Freeport-McMoRan from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. BNP Paribas Exane upped their target price on Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Finally, Wells Fargo & Company reduced their target price on Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $68.95.

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.