Assetmark Inc. Sells 40,954 Shares of Freeport-McMoRan Inc. $FCX

Key Points

• Assetmark cut its stake in Freeport-McMoRan by 32.5% in Q4, selling 40,954 shares and leaving it with 85,170 shares valued at $4.326 million.
• Significant insider selling occurred this quarter: Chairman Richard Adkerson sold 248,031 shares (~$15.58M) and the CFO sold 48,500 shares, with insiders disposing of 565,145 shares totaling $35.84M.
• Analysts are broadly positive with a consensus rating of Moderate Buy and a $66.26 target, even as the stock trades near $70; the company also declared a quarterly dividend of $0.075 per share (ex-dividend April 15, payable May 1).

Assetmark Inc. decreased its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 32.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,170 shares of the natural resource company's stock after selling 40,954 shares during the quarter. Assetmark Inc.'s holdings in Freeport-McMoRan were worth $4,326,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FCX. Great Lakes Advisors LLC grew its holdings in Freeport-McMoRan by 8.0% during the 3rd quarter. Great Lakes Advisors LLC now owns 1,551,258 shares of the natural resource company's stock valued at $60,840,000 after buying an additional 115,285 shares in the last quarter. Summit Global Investments grew its holdings in Freeport-McMoRan by 278.4% during the 3rd quarter. Summit Global Investments now owns 46,157 shares of the natural resource company's stock valued at $1,810,000 after buying an additional 33,959 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in Freeport-McMoRan by 5.7% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 383,488 shares of the natural resource company's stock valued at $15,213,000 after buying an additional 20,586 shares in the last quarter. Wellington Management Group LLP grew its holdings in Freeport-McMoRan by 190.9% during the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company's stock valued at $1,431,326,000 after buying an additional 23,950,557 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Freeport-McMoRan during the 3rd quarter valued at approximately $1,066,000. Institutional investors own 80.77% of the company's stock.

Insider Activity at Freeport-McMoRan

In related news, Chairman Richard C. Adkerson sold 248,031 shares of the business's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $62.80, for a total transaction of $15,576,346.80. Following the completion of the transaction, the chairman owned 3,509,119 shares in the company, valued at $220,372,673.20. The trade was a 6.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Maree E. Robertson sold 48,500 shares of the business's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $61.55, for a total value of $2,985,175.00. Following the transaction, the chief financial officer owned 79,894 shares of the company's stock, valued at approximately $4,917,475.70. The trade was a 37.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 565,145 shares of company stock worth $35,839,918 over the last quarter. 0.75% of the stock is owned by insiders.

Analysts Set New Price Targets

FCX has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on Freeport-McMoRan in a report on Thursday, April 2nd. They set a "buy" rating and a $70.00 price target for the company. Raymond James Financial lifted their target price on Freeport-McMoRan from $53.00 to $66.00 and gave the stock an "outperform" rating in a report on Thursday, January 15th. Wells Fargo & Company lifted their target price on Freeport-McMoRan from $64.00 to $77.00 and gave the stock an "overweight" rating in a report on Wednesday. Stifel Nicolaus lifted their target price on Freeport-McMoRan from $52.00 to $76.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Finally, Scotiabank dropped their target price on Freeport-McMoRan from $72.00 to $71.00 and set a "sector perform" rating for the company in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $66.26.

More Freeport-McMoRan News

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

• Positive Sentiment: Earnings outlook: Analysts and research notes see the company positioned to deliver an earnings beat in the upcoming report, citing the right combination of revenue and cost factors that support higher guidance and potential upside to consensus estimates. This improves near-term fundamentals sentiment for FCX. Freeport-McMoRan (FCX) Earnings Expected to Grow: Should You Buy?
• Positive Sentiment: Market action: The stock moved higher in the latest session versus the broader market, reflecting investor buying interest alongside elevated volume — a near-term technical tailwind that reinforces momentum-driven inflows. Freeport-McMoRan (FCX) Rises Higher Than Market: Key Facts
• Neutral Sentiment: Insider selling noted: Reports show executives sold shares while the stock rallied past the $69 level. Insider sales can be interpreted many ways (portfolio diversification, taxes, or signaling), so investors should monitor the size, timing and reason disclosures before changing positions. Freeport-McMoRan (FCX) Stock Soars Past $69 While Executives Unload Shares
• Negative Sentiment: Analyst target cut: Scotiabank trimmed its price target to $71, which is mildly negative because it reduces some analyst-driven upside and could cap momentum if other firms follow. This raises some valuation risk even as fundamentals look supportive. Scotiabank Lowers Freeport-McMoRan NYSE: FCX Price Target to $71.00

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $70.11 on Friday. The stock has a market cap of $100.76 billion, a price-to-earnings ratio of 46.43, a price-to-earnings-growth ratio of 0.78 and a beta of 1.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29. The stock has a 50 day moving average price of $62.20 and a 200-day moving average price of $52.95. Freeport-McMoRan Inc. has a one year low of $32.12 and a one year high of $70.71.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The firm had revenue of $5.63 billion during the quarter, compared to analysts' expectations of $5.42 billion. During the same quarter in the previous year, the business earned $0.31 EPS. The company's quarterly revenue was down 1.5% on a year-over-year basis. Equities analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan's payout ratio is presently 19.87%.

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.

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