Lydia Kennard Sells 3,798 Shares of Freeport-McMoRan (NYSE:FCX) Stock

Freeport-McMoRan Inc. (NYSE:FCX) Director Lydia Kennard sold 3,798 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $79.11, for a total value of $300,459.78. Following the completion of the sale, the director directly owned 122,702 shares in the company, valued at approximately $9,706,955.22. This represents a 3.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX opened at $76.54 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92. The business’s fifty day moving average price is $65.46 and its two-hundred day moving average price is $64.02. Freeport-McMoRan Inc. has a fifty-two week low of $35.15 and a fifty-two week high of $80.24. The stock has a market capitalization of $109.91 billion, a price-to-earnings ratio of 37.70, a price-to-earnings-growth ratio of 0.76 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.The company had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period last year, the business earned $0.54 earnings per share. The business’s revenue was down 7.3% on a year-over-year basis. As a group, analysts predict that Freeport-McMoRan Inc. will post 2.79 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Wednesday, July 15th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, July 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.4%. Freeport-McMoRan’s dividend payout ratio (DPR) is 14.78%.

Institutional Trading of Freeport-McMoRan

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in shares of Freeport-McMoRan by 6,434.3% in the 2nd quarter. California State Teachers Retirement System now owns 142,181,964 shares of the natural resource company’s stock valued at $8,941,824,000 after purchasing an additional 140,006,047 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Freeport-McMoRan by 1.0% during the fourth quarter. Fisher Asset Management LLC now owns 63,880,757 shares of the natural resource company’s stock worth $3,244,504,000 after buying an additional 622,343 shares during the last quarter. State Street Corp raised its stake in shares of Freeport-McMoRan by 0.6% during the fourth quarter. State Street Corp now owns 62,873,136 shares of the natural resource company’s stock worth $3,193,327,000 after buying an additional 395,226 shares during the last quarter. Bank of America Corp DE lifted its holdings in Freeport-McMoRan by 20.0% in the first quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock valued at $2,489,069,000 after buying an additional 7,044,775 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Freeport-McMoRan by 31.2% in the fourth quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock valued at $1,897,202,000 after buying an additional 8,891,743 shares during the period. 80.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FCX. JPMorgan Chase & Co. upped their price objective on shares of Freeport-McMoRan from $73.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Barclays increased their price target on Freeport-McMoRan from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Freeport-McMoRan in a report on Friday, May 15th. Stifel Nicolaus lifted their price objective on Freeport-McMoRan from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $78.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.27.

Trending Headlines about Freeport-McMoRan

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

• Positive Sentiment: Recent performance data shows strong momentum, with FCX gaining significantly over the past month, quarter, and year. Zacks also identifies the stock as a strong momentum name, which may continue attracting trend-focused investors. Freeport McMoRan On Smelter Optimism And Whether The Stock Is Already Priced In Here’s Why Freeport-McMoRan Is a Strong Momentum Stock
• Positive Sentiment: Optimism surrounding Freeport-McMoRan’s smelter operations and favorable copper prices supports the company’s growth outlook. A new Erste Group Bank coverage initiation with a “buy” rating also adds positive analyst sentiment. Erste Group Bank coverage
• Positive Sentiment: FCX recently exceeded quarterly earnings and revenue expectations, reporting $0.74 in earnings per share versus a $0.62 consensus estimate and revenue of $7.03 billion versus $6.62 billion expected. Analysts broadly maintain a “Moderate Buy” view, although the average published price target is below the current trading range.
• Neutral Sentiment: Analysts comparing FCX with BHP Group point to strong copper prices, healthy finances, and ongoing growth projects at both miners. The comparison supports the sector outlook but does not provide a clear company-specific catalyst. FCX versus BHP
• Negative Sentiment: Valuation concerns are weighing on the stock after its copper-fueled rally. While a discounted-cash-flow analysis suggests potential upside, market-multiple measures indicate FCX may be expensive following its strong run. Freeport-McMoRan Stock May Be Pricey After Record Copper Rally
• Negative Sentiment: Executive Vice President Douglas Currault II sold 80,000 shares worth approximately $6.3 million, reducing his holdings by 27.5%. Although the sale may be personal or scheduled, it can reinforce profit-taking concerns when the stock is near record levels. Freeport-McMoRan Insider Selling

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.