Freeport-McMoRan Inc. $FCX Shares Newly Acquired by NBT Bank N.A.

NBT Bank N.A. acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,729 shares of the natural resource company’s stock, valued at approximately $611,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp lifted its stake in shares of Freeport-McMoRan by 34.5% during the 1st quarter. Fifth Third Bancorp now owns 1,062,916 shares of the natural resource company’s stock worth $62,478,000 after purchasing an additional 272,726 shares during the period. Iowa State Bank boosted its holdings in shares of Freeport-McMoRan by 50.7% during the third quarter. Iowa State Bank now owns 50,144 shares of the natural resource company’s stock worth $3,510,000 after purchasing an additional 16,868 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Freeport-McMoRan by 4.6% during the second quarter. The Manufacturers Life Insurance Company now owns 2,687,524 shares of the natural resource company’s stock worth $169,018,000 after purchasing an additional 117,888 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Freeport-McMoRan by 1.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,970,872 shares of the natural resource company’s stock valued at $627,068,000 after purchasing an additional 141,738 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Freeport-McMoRan by 17.1% in the second quarter. HighTower Advisors LLC now owns 1,249,858 shares of the natural resource company’s stock valued at $78,604,000 after purchasing an additional 182,714 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup upped their target price on Freeport-McMoRan from $66.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, October 5th. Royal Bank Of Canada increased their target price on Freeport-McMoRan from $73.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 16th. Barclays raised their price target on Freeport-McMoRan from $83.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 19th. The Goldman Sachs Group restated a “buy” rating on shares of Freeport-McMoRan in a report on Thursday, September 10th. Finally, BMO Capital Markets lifted their price target on Freeport-McMoRan from $78.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, September 29th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.27.

Insider Transactions at Freeport-McMoRan

In related news, CAO Stephen T. Higgins sold 14,277 shares of Freeport-McMoRan stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total value of $992,251.50. Following the transaction, the chief accounting officer owned 54,618 shares in the company, valued at approximately $3,795,951. This trade represents a 20.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Douglas N. Currault II sold 80,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $78.56, for a total value of $6,284,800.00. Following the sale, the executive vice president directly owned 211,016 shares of the company’s stock, valued at approximately $16,577,416.96. This trade represents a 27.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 110,398 shares of company stock valued at $8,387,271. Corporate insiders own 0.73% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $65.20 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 2.07. The firm has a market capitalization of $93.63 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 0.58 and a beta of 1.39. Freeport-McMoRan Inc. has a one year low of $38.54 and a one year high of $80.24. The company has a 50 day moving average price of $72.02 and a 200 day moving average price of $66.90.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.62 billion. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. Freeport-McMoRan’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter last year, the business earned $0.54 EPS. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 3.05 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio is presently 14.78%.

More Freeport-McMoRan News

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

• Positive Sentiment: FCX has delivered four consecutive earnings beats, and strong copper prices are expected to support third-quarter results despite lower sales volumes and higher costs. The earnings preview also highlights estimates for production and other operating metrics that could influence the stock beyond headline revenue and EPS. FCX to Report Q3 Earnings: What’s in the Cards for the Stock?
• Positive Sentiment: Erste Group Bank raised its FY2026 EPS forecast for Freeport-McMoRan to $3.19 from $3.10 and maintained a Buy rating. The revised estimate is above the broader consensus of $2.99, providing a favorable analyst signal ahead of earnings.
• Positive Sentiment: HSBC reportedly assigned FCX a $77 price target ahead of the company’s October 27 results, suggesting potential upside if copper-market conditions and quarterly execution meet expectations. HSBC sets USD 77 target before October 27 results

About Freeport-McMoRan

Freeport-McMoRan Inc (NYSE: FCX) is a global mining company primarily engaged in the exploration, development, and production of copper. Copper is used extensively in electrical wiring, construction, transportation, renewable energy systems, and other industrial applications. The company also produces gold and molybdenum, a metal used in steelmaking and other industrial processes, as well as certain other byproducts.

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