Temasek Holdings Private Ltd Increases Stock Holdings in Freeport-McMoRan Inc. $FCX

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ABN Amro Investment Solutions lifted its position in shares of Freeport-McMoRan by 18.8% during the first quarter. ABN Amro Investment Solutions now owns 69,712 shares of the natural resource company’s stock worth $4,098,000 after purchasing an additional 11,033 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Freeport-McMoRan by 7.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 298,083 shares of the natural resource company’s stock valued at $17,521,000 after purchasing an additional 19,645 shares in the last quarter. Wilkerson Advisory Group LLC grew its holdings in Freeport-McMoRan by 1,610.2% during the 1st quarter. Wilkerson Advisory Group LLC now owns 3,369 shares of the natural resource company’s stock valued at $198,000 after purchasing an additional 3,172 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Freeport-McMoRan during the 1st quarter worth $29,000. Finally, Rice Partnership LLC increased its stake in Freeport-McMoRan by 29.6% during the 1st quarter. Rice Partnership LLC now owns 41,820 shares of the natural resource company’s stock worth $2,458,000 after buying an additional 9,561 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $62.57 on Wednesday. The firm has a fifty day moving average of $63.69 and a two-hundred day moving average of $62.15. The firm has a market cap of $89.94 billion, a P/E ratio of 33.28, a P/E/G ratio of 0.59 and a beta of 1.37. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $72.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13.

Freeport-McMoRan (NYSE:FCX) last issued 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. 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 for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the prior year, the business posted $0.24 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 2.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be issued 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 currently 15.96%.

Freeport-McMoRan News Roundup

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of Freeport-McMoRan from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. CICC Research dropped their target price on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. Stifel Nicolaus boosted their price target on Freeport-McMoRan from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group lowered their price objective on Freeport-McMoRan from $75.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Finally, Morgan Stanley lifted their price objective on Freeport-McMoRan from $66.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.95.

Freeport-McMoRan Company 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.