Levin Capital Strategies L.P. Buys New Shares in Freeport-McMoRan Inc. $FCX

Levin Capital Strategies L.P. acquired a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 1st quarter, Holdings Channel reports. The firm acquired 117,168 shares of the natural resource company’s stock, valued at approximately $6,887,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signature Equity Partners LLC boosted its holdings in Freeport-McMoRan by 2,588.4% in the first quarter. Signature Equity Partners LLC now owns 4,651 shares of the natural resource company’s stock worth $273,000 after acquiring an additional 4,478 shares in the last quarter. Acumen Wealth Advisors LLC raised its position in shares of Freeport-McMoRan by 990.3% during the first quarter. Acumen Wealth Advisors LLC now owns 10,347 shares of the natural resource company’s stock worth $608,000 after purchasing an additional 9,398 shares during the period. Millennium Capital Advisors LLC bought a new position in shares of Freeport-McMoRan in the 1st quarter worth $219,000. Temasek Holdings Private Ltd lifted its holdings in shares of Freeport-McMoRan by 10.9% in the 1st quarter. Temasek Holdings Private Ltd now owns 669,247 shares of the natural resource company’s stock worth $39,338,000 after purchasing an additional 66,038 shares in the last quarter. Finally, ABN Amro Investment Solutions lifted its holdings in shares of Freeport-McMoRan by 18.8% in the 1st 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. Institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on FCX shares. Wells Fargo & Company decreased their price target on shares of Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. BMO Capital Markets raised their price objective on shares of Freeport-McMoRan from $68.00 to $78.00 and gave the company an “outperform” rating in a research note on Tuesday, June 23rd. HSBC raised their price objective on shares of Freeport-McMoRan from $72.00 to $75.00 in a research note on Friday, June 12th. Sanford C. Bernstein lifted their price objective on shares of Freeport-McMoRan from $53.50 to $58.50 and gave the company a “market perform” rating in a report on Wednesday, June 10th. Finally, Raymond James Financial decreased their target price on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.95.

Freeport-McMoRan Trading Up 3.6%

NYSE:FCX opened at $64.83 on Thursday. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $72.28. The firm has a 50-day moving average price of $63.64 and a two-hundred day moving average price of $62.25. 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 firm has a market cap of $93.20 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 0.63 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. On average, equities analysts expect that Freeport-McMoRan Inc. will post 2.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

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 issued 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 is Wednesday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 15.96%.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: Stifel Nicolaus raised its price target on FCX to $80 from $76 and kept a buy rating, signaling confidence in further upside for the copper miner. Analyst rating update
• Positive Sentiment: Analysts have been lifting earnings estimates ahead of FCX’s Q2 report, with forecasts calling for higher profit even as revenue is expected to decline, suggesting strong cost control and operating efficiency. Earnings forecast article
• Positive Sentiment: Several previews say FCX could be one of the mining names most likely to beat Q2 earnings estimates, helped by stronger commodity pricing. Mining stocks preview
• Positive Sentiment: Longer-term demand themes remain constructive, with AI data-center buildout expected to boost copper consumption and benefit major miners like FCX. AI copper demand article
• Neutral Sentiment: Investors are waiting for FCX’s Q2 earnings release, with market focus on whether copper price support can offset softer volumes and higher costs. Earnings preview
• Negative Sentiment: Copper prices dropped sharply intraday, which could weigh on FCX because the company’s earnings are highly sensitive to copper pricing. Copper price drop article

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.