IFP Advisors Inc Sells 11,002 Shares of Freeport-McMoRan Inc. $FCX

IFP Advisors Inc reduced its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 14.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 64,655 shares of the natural resource company’s stock after selling 11,002 shares during the period. IFP Advisors Inc’s holdings in Freeport-McMoRan were worth $4,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of FCX. Fifth Third Bancorp boosted its stake in Freeport-McMoRan by 34.5% in the 1st quarter. Fifth Third Bancorp now owns 1,062,916 shares of the natural resource company’s stock valued at $62,478,000 after purchasing an additional 272,726 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Freeport-McMoRan during the 4th quarter worth $8,857,000. Franklin Resources Inc. lifted its holdings in shares of Freeport-McMoRan by 31.2% during 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Freeport-McMoRan by 205.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 317,429 shares of the natural resource company’s stock worth $16,122,000 after buying an additional 213,477 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in Freeport-McMoRan by 1.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,970,872 shares of the natural resource company’s stock worth $627,068,000 after acquiring an additional 141,738 shares during the period. 80.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FCX. Freedom Broker lowered shares of Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Bank of America upped their target price on Freeport-McMoRan from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Weiss Ratings raised Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 31st. Scotiabank raised their price target on Freeport-McMoRan from $67.00 to $77.00 and gave the stock a “sector outperform” rating in a research report on Monday, June 15th. Finally, Stifel Nicolaus raised their price target on Freeport-McMoRan from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average target price of $69.75.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $71.15 on Friday. The business has a 50 day moving average of $67.41 and a 200-day moving average of $64.70. The company has a market capitalization of $102.18 billion, a P/E ratio of 35.05, a P/E/G ratio of 0.75 and a beta of 1.41. Freeport-McMoRan Inc. has a 1 year low of $35.15 and a 1 year high of $80.24. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.62 by $0.12. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The business had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the company earned $0.54 EPS. The firm’s revenue was down 7.3% compared to the same quarter last year. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 2.81 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $0.30 annualized dividend and a yield of 0.4%. Freeport-McMoRan’s payout ratio is presently 14.78%.

Insider Buying and Selling

In related news, EVP Douglas Currault, II sold 80,000 shares of Freeport-McMoRan stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $78.56, for a total value of $6,284,800.00. Following the transaction, the executive vice president directly owned 211,016 shares of the company’s stock, valued at $16,577,416.96. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephen Higgins sold 14,277 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total value of $992,251.50. Following the completion of the sale, the chief accounting officer owned 54,618 shares in the company, valued at $3,795,951. The trade was a 20.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 110,398 shares of company stock valued at $8,387,271 over the last three months. 0.73% of the stock is owned by insiders.

Key Stories Impacting Freeport-McMoRan

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

• Positive Sentiment: Longer term, Freeport-McMoRan remains positioned to benefit from strong copper demand tied to artificial-intelligence data centers, power-grid upgrades and renewable-energy infrastructure. Copper supply is also constrained by declining mine output, operational disruptions and smelter bottlenecks. Copper’s Record Rally Highlights a Deeper Supply Problem
• Positive Sentiment: Recent earnings demonstrated operating leverage: FCX reported quarterly earnings of $0.74 per share versus the $0.62 consensus estimate, while revenue also exceeded expectations. Analysts’ average rating remains Moderate Buy, with some price targets above the current trading level. Freeport-McMoRan earnings report
• Neutral Sentiment: Investors remain focused on whether the structural copper shortage can outweigh near-term demand weakness. Elevated prices have caused some buyers, particularly in China, to delay purchases, while copper inventories and trade flows remain sensitive to policy developments. Copper miners and oil market article
• Negative Sentiment: Uncertainty surrounding White House plans for copper tariffs triggered a broad pullback in copper-related equities, reversing part of the metal’s recent record rally. Rising Treasury yields, a stronger dollar and pressure across precious and industrial metals added to the selling. Freeport-McMoRan Stock Drops on Copper Tariff Uncertainty

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a global mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical wiring, construction, transportation, industrial equipment and renewable-energy technologies. The company also produces gold as a byproduct of its copper operations and molybdenum, an alloying metal used in steelmaking and other industrial applications.

Freeport-McMoRan operates major mining and processing assets in North America, South America and Indonesia.