Freeport-McMoRan Inc. $FCX Shares Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 95.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 19,190 shares of the natural resource company’s stock after selling 388,781 shares during the period. Curated Wealth Partners LLC’s holdings in Freeport-McMoRan were worth $1,343,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. SBE LLC DBA Cedar Cove Wealth Partners acquired a new position in Freeport-McMoRan in the third quarter valued at approximately $353,000. Nvwm LLC grew its stake in shares of Freeport-McMoRan by 68.8% in the third quarter. Nvwm LLC now owns 27,800 shares of the natural resource company’s stock worth $1,946,000 after purchasing an additional 11,333 shares in the last quarter. Covenant Asset Management LLC acquired a new position in Freeport-McMoRan during the 3rd quarter valued at about $213,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in Freeport-McMoRan in the third quarter worth approximately $211,000. Finally, B.A. Schrock Wealth Management Inc. acquired a new position in Freeport-McMoRan during the third quarter worth about $825,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 0.9%

Freeport-McMoRan stock traded down $0.60 during mid-day trading on Thursday, hitting $69.02. The company’s stock had a trading volume of 8,149,593 shares, compared to its average volume of 16,118,341. The firm’s 50 day moving average is $72.09 and its 200 day moving average is $66.50. The company has a market cap of $99.11 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 0.68 and a beta of 1.39. 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 Inc. has a 52-week low of $38.54 and a 52-week high of $80.24.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.12. The company had revenue of $7.03 billion for the quarter, compared to analysts’ expectations of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. On average, analysts anticipate that Freeport-McMoRan Inc. will post 2.90 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be given a dividend of $0.0750 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan’s payout ratio is presently 14.78%.

Insider Activity at Freeport-McMoRan

In other news, CAO Stephen T. Higgins sold 14,277 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $69.50, for a total transaction of $992,251.50. Following the transaction, the chief accounting officer directly owned 54,618 shares in the company, valued at $3,795,951. The trade was a 20.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lydia H. Kennard sold 3,798 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.11, for a total transaction of $300,459.78. Following the completion of the transaction, the director directly owned 122,702 shares in the company, valued at $9,706,955.22. This trade represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 110,398 shares of company stock worth $8,387,271 in the last 90 days. 0.73% of the stock is owned by corporate insiders.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: A halt at Freeport-McMoRan’s Grasberg operation could tighten global copper supply if it persists. Reduced supply may support copper prices and improve the outlook for FCX’s realized pricing and cash flow. However, the disruption could also temporarily reduce production. Does the Grasberg Halt Tighten Copper for Freeport-McMoRan?
• Positive Sentiment: Scotiabank raised its Freeport-McMoRan EPS forecasts to $3.35 for FY2026 from $3.06 and to $2.86 for FY2027 from $2.62. The revisions suggest improving expectations for copper markets, production, costs or some combination of those factors.
• Positive Sentiment: Erste Group Bank also increased its FY2027 EPS estimate to $4.32 from $4.00 and maintained a Buy rating, providing a favorable long-term analyst signal.
• Neutral Sentiment: The reports describing FCX’s steeper decline than the broader market largely document the share-price performance rather than identify a new fundamental deterioration. Freeport-McMoRan Falls More Steeply Than Broader Market
• Negative Sentiment: Technical commentary argues that FCX’s rally looks tired and that consolidation is likely. This may encourage short-term investors to take profits, particularly with the stock below its 50-day moving average. Freeport-McMoRan Rally Looks Tired

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FCX. Wells Fargo & Company boosted their target price on Freeport-McMoRan from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Erste Group Bank assumed coverage on shares of Freeport-McMoRan in a research note on Thursday, August 27th. They set a “buy” rating for the company. Bank of America lifted their target price on shares of Freeport-McMoRan from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. BMO Capital Markets boosted their price target on shares of Freeport-McMoRan from $78.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, September 29th. Finally, Citigroup upped their price target on shares of Freeport-McMoRan from $66.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average price target of $76.22.

About Freeport-McMoRan

Freeport-McMoRan Inc (NYSE: FCX) is a leading international 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 systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.

Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.